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NEW YORK - Paramount Global (NASDAQ:PARA) reported fourth-quarter earnings and revenue that fell short of analyst expectations, sending shares down 1% in after-hours trading on Monday.
The media and entertainment conglomerate posted adjusted earnings per share of $0.11, missing the analyst consensus of $0.20. Revenue for the quarter came in at $7.98 billion, below estimates of $8.11 billion but up 5% YoY.
Paramount+’s subscriber base grew by 5.6 million in Q4 to reach 77.5 million, marking the streaming service’s best quarter of subscriber growth in two years. Paramount+ revenue increased 16% YoY, driven by the subscriber gains.
"We are proud of the transformative year we delivered since becoming Co-CEOs, which marks a significant turning point for Paramount as we shift into a streaming-first company," said George Cheeks, Chris McCarthy and Brian Robbins, Co-CEOs of Paramount Global, in a statement.
The company’s Direct-to-Consumer segment, which includes Paramount+, saw revenue rise 8% to $2.01 billion. However, the TV Media segment, which includes CBS and cable networks, saw revenue decline 4% to $4.98 billion due to lower advertising and affiliate revenue.
Paramount’s Filmed Entertainment division reported a 67% jump in revenue to $1.08 billion, boosted by theatrical releases like "Gladiator II" and "Sonic the Hedgehog 3".
The company did not provide specific financial guidance for the upcoming quarters or full year 2025 in its earnings release.
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