Reported 2 months ago
Paramount Global reported mixed second-quarter earnings, with adjusted earnings surpassing expectations, but revenue falling short. Notably, the company's direct-to-consumer segment posted its first profit, although it plans to cut 15% of its U.S. workforce. Citi's Jason Bazinet emphasized the importance of understanding consumer spending on streaming apps as a vital indicator for the company's future in a landscape marked by cable television downturns.
Source: YAHOO