From CNBC:

Paramount Global reported fourth-quarter revenue missing expectations but surprised with a profit and strong performance from Paramount+. Earnings per share: 4 cents vs. expected loss of 1 cent. Paramount+ hit 67.5 million subscribers, up 4.1 million. Bob Bakish emphasized content return, scaling streaming, and cost base transformation.

Paramount has been exploring sale options amid changing media landscape. Warner Bros. Discovery had been in talks to acquire Paramount but discussions have since halted. Paramount announced 800 layoffs after record viewership for the Super Bowl. Revenue declines were seen in TV media and filmed entertainment sectors.

Stay tuned for more updates on this developing story.



Read more: Paramount Global (PARA) earnings Q4 2023