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Paramount beats revenue estimates on streaming strength, Telecom News, ET Telecom

While streaming is the chief driver of revenue growth for the company, it remains unprofitable. That has forced it to juggle growth with cost controls at that unit because the highly profitable cable division is suffering from a rapid sales decline. Revenue at its TV media division fell 8% to $4.57 billion, driven by a 14% drop in advertising revenue due to softness in the global advertising market and lower political advertising, Paramount said.
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