From Investing.com: 2024-11-08 08:37:46

Paramount Global (NASDAQ: PARA) beat third-quarter earnings expectations but missed revenue estimates. Stock dipped 0.35% post-report. Adjusted EPS was $0.49, surpassing estimates by $0.25. Revenue was $6.73 billion, down 6% YoY. Direct-to-Consumer segment revenue grew 10% to $1.86 billion, with Paramount+ gaining 3.5 million subscribers, totaling 72 million. TV Media revenue dropped 6% to $4.3 billion, while Filmed Entertainment revenue fell 34% to $590 million. Co-CEOs of Paramount Global are pleased with Q3 performance, emphasizing DTC profitability and subscriber growth. The company is working towards $500 million in annual cost savings and aims to finalize Skydance transactions by the first half of 2025.



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