Author: Eva Mathews
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Paramount to raise streaming prices as ad slump knocks revenue
By Eva Mathews and Helen Coster (Reuters) -Paramount Global Inc will raise prices for its flagship streaming service in some markets this year, the CBS network owner said on Thursday, amid an extended weakness in the advertising market that has pressured revenue. Shares in Paramount, formerly known as ViacomCBS, were down 1.5% in a broadly…
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Netflix set for slowest revenue growth as ad plan struggles to gain traction
By Eva Mathews (Reuters) – Netflix Inc is expected to report its slowest quarterly revenue growth on Thursday as its ad-supported plan struggles to attract customers in the saturating U.S. market, which could pressure the company to pull back on content spending this year. The streaming pioneer has been reeling under strained consumer spending, rising…
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AT&T lifts profit forecast on travel rebound, demand for pricier plans
By Eva Mathews and Savyata Mishra (Reuters) -AT&T Inc lifted its annual profit forecast after posting upbeat third-quarter results on Thursday, thanks to Americans opting for pricier wireless plans and a rebound in international travel. After unwinding its efforts to become a media and entertainment company, AT&T is back to focusing on its wireless business…
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Comcast, J&J jump on the buyback bandwagon ahead of new taxes
By Eva Mathews (Reuters) -Comcast Corp and Johnson & Johnson on Wednesday unveiled buybacks worth billions of dollars as they joined a rush of U.S. companies seeking to avoid a new tax on such repurchases. The $430 billion Inflation Reduction Act imposes a 1% tax on buybacks and a minimum 15% tax on corporations from…
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Paramount gets lift from ‘Top Gun’ but streaming losses a drag
By Eva Mathews (Reuters) -Paramount Global beat Wall Street expectations for quarterly revenue and profit on Thursday, powered by the May release of blockbuster Tom Cruise-starrer “Top Gun: Maverick” even as streaming subscriber growth slowed. The sequel to the 1986 action flick “Top Gun” surged past Disney’s Marvel adventure “Doctor Strange in the Multiverse of…
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T-Mobile dodges inflation hit as cheaper plans power subscriber growth
By Eva Mathews and Niket Nishant (Reuters) – T-Mobile US Inc raised subscriber addition forecast for the second time this year as its strategy of selling relatively cheaper plans helped the carrier attract more price-conscious U.S. customers than its rivals AT&T and Verizon. Shares of T-Mobile rose as much as 4.4% on Wednesday as the…
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Paramount misses quarterly revenue estimate, but streaming grows
By Eva Mathews and Helen Coster (Reuters) -Paramount Global reported forecast-missing quarterly revenue on Tuesday that sent its shares down 6%, but the media giant still added millions of streaming subscribers. Total revenue fell about 1% to $7.33 billion in the first quarter, below analysts’ estimates of $7.38 billion, according to IBES data from Refinitiv.…
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Paramount shares slump as investments to beef up streaming spook investors
By Eva Mathews and Tiyashi Datta (Reuters) – Shares of ViacomCBS Inc, rebranded as Paramount Global, plunged 21% on Wednesday to their lowest in over a year, after the media company’s earnings miss and its move to ramp up investments in streaming raised questions over its ability to stay profitable. The company was a late…