Reported 17 days ago
Paramount Global has announced a profitable quarter for its streaming services, but overall revenue fell short of expectations due to ongoing losses in linear TV and its studios segment. With a reported revenue of $6.73 billion and adjusted earnings per share of $0.49, the company noted significant improvements in its direct-to-consumer streaming business, which showed an operating income of $49 million. Despite this success, management warned of potential losses in the upcoming quarter as they prepare for a merger with Skydance Media, aiming for further profitability by 2025.
Source: YAHOO