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NEW YORK - Paramount Global (NASDAQ:PARA) reported first quarter 2025 earnings that surpassed analyst expectations, while revenue declined due to the absence of Super Bowl advertising income from the previous year.
The media conglomerate posted adjusted earnings per share of $0.29, exceeding the analyst consensus of $0.27. Revenue for the quarter came in at $7.19 billion, above the $7.12 billion estimate but down 6% YoY. Excluding the impact of Super Bowl LVIII in the year-ago period, revenue grew 2% YoY.
Paramount+ reached 79 million global subscribers, up 11% YoY, adding 1.5 million net new subscribers in the quarter. The streaming service saw global watch time per user increase 17% and churn improve by 130 basis points YoY.
"We are very pleased with our performance in the quarter driven by a powerful content slate and focused execution," said Co-CEOs George Cheeks, Chris McCarthy, and Brian Robbins in a joint statement.
The company’s Direct-to-Consumer segment, which includes Paramount+, saw revenue rise 9% to $2.04 billion. However, TV Media revenue fell 13% to $4.54 billion, primarily due to the Super Bowl comparison.
Paramount noted that CBS is poised to be the most-watched network in primetime for the 17th consecutive season. The company also highlighted the strong performance of its film "Sonic the Hedgehog 3" in driving value across the business.
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