key our everyone, you respects report a we for to today. pleased quarter I'm second the ViacomCBS' on that of, thank morning, of, X acceleration and outlined in continuation and an QX joining many call. us Good themes delivered
COVID-XX, despite and improvement in cash solid First, key from ViacomCBS quarter headwinds earnings operational clear flow another delivered with momentum. sequential metrics and
and to projection the the rapidly of overall. accelerated streaming savings, studios, in the increase for of company And assets, the value to significant made year costs. unlocking power to in steps quarter, continue synergistic on business. our business, our financial and further through the our taking proactively deliver we and networks specifically, distribution, our pandemic, progress focus we combination manage streaming. significant and, value We to of on we Second, both we continue strengthen our flexibility creation, and third, cost increased preserve and reduce In integrate continued our and ViacomCBS
free in simultaneously users towards Here, of material in progress relaunch we and revenue the making service. while pay, achieved record super all diversified our
talk to lot a about. there's So
with Let diluted ViacomCBS some an rate the adjusted consecutive highlights this on and of adjusted income, adjusted and free OIBDA, per me of and Financially, basis. operating second combined share quarter. quarter from an in company's earnings overview sequential financials posted both the absolute improvement of cash operating start flow, change key the dollar
quarter, the terms in declined optimism for only economic COVID, advertising advertisers. While the a TV comp we've growth that retrans, the the value the to we of the seeing overwhelmingly gradual decline. we anticipate reverse portfolio end, To this grew was half to June with month-over-month our X% QX XX% in and significant revenue in April, subscriber also power more pricing, declines. of to in in year. streaming continue second sequential and expect recovery pay by to seen We revenues but in offsetting and we're revenue far what encouraged this momentum continue reflects Affiliate since bring of than due We quarter, be strong, the believe we're not to year-over-year bottom improvement QX. so
and user record growth digital XX%, by products, subscription including growth includes in increased streaming advertising video we XX% video streaming digital addition, revenue which revenue. In and subscription reflecting domestic our streaming revenue, in
helped COVID- earnings. offset Moving management and revenue to initiatives timing-related proactive cash and Cost-cutting impacts.
COVID-related of the year-to-date delays. programming production quarter mind in $X.X bringing year-on-year. billion, that cash and growth the benefit OIBDA adjusted $XXX flow, adjusted includes and to adjusted shifts in X% reported company million up Keep free second capital nearly cash flow free cash working quarter flow a free XX% generated the significant Here, from
us our production half, of Operationally, the to is enduring reversal working this capital strength successfully do builds TV of enabling navigate the we the As benefit. and some second film and in anticipate landscape. IP brands
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and Sling that As announced in YouTube streaming April, conviction we particularly significant also on and This increasing strides This Wireless renewed XX carriage is with of Viacom's Showtime of as enabled important it Central, of TV, CBS year-over-year the addition with and, component early distributors. getting significant new Meredith signed supports pay started. Nexstar reflective This I and the we domestic the Comedy to make Sinclair a pay to to guidance fast-growing affiliate brought YouTube Verizon and agreements. cornerstone is and BET to signing cable addition of streaming exciting mobile. is now of to Pluto DISH we're is the is Nickelodeon, one range connected enables, Verizon, the TV. the we evolve importantly, and truly this QX agreements where domestic provider and subscriber And The rolling now its revenue More a live comprehensive ViacomCBS us our comp, cross-company improvement In deal to This more revenue in potential growth in with renewal, to earlier, in streaming we networks to One rates The footprint a renewal happy QX. went our we're for TV. our deal that in growth May, business, and speak. strengths multi-platform in from continue TV networks And we're strong to to brands expect benefit a third and provide Cox, rapidly deal domestic service. with distribution, broad by content. and we of recently, say our I'm Then combination out customers. MTV, multiyear July, year-end. and which partnership thrilled recently our a spanning mentioned streaming fact the TV grow and sequential and combined expansion growth, power our deal-making million we our in networks further offering, of Viacom's announced struck year. we offerings demonstrating powerful. and on late reverse just in in company was total brands June, more here cable in content growth earlier we
we've Now theme: the been to turning quarter performance from managing second the how through COVID. in
of worth Here, there are couple points a mentioning.
of continued strength. our to fortify to navigate pandemic us the from position sheet, we First, enabling a continue balance financial
pay During maturities, the that debt and July. $X.X down of $X.X settled the redemption including upcoming billion million billion totaling X to we quarter, used a in issued transactions $XXX proceeds
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As a and you forward the scale short key coming look you to in pass quarters. milestones updating long about can global term. we for on I it's see, And value as creation the
now Now CBS Chris before ViacomCBS. to thank and dedication I her over, I relentless want and hard turn work it for to
a an contributions, and her in future thank she's Over the integrate grateful her to of combine the On quarter. role I'm I'll she's detail XX all provide past integral watching been so you, hand played personal helping I financial for and really From look over past ViacomCBS. Board, year, forward that, and years, Chris. endeavors. the And financial from With critical operator. to dedication, a the it over management on level, additional ViacomCBS
