Paramount Global beat Wall Street analysts’ estimates in the third quarter, thanks in large part to streaming flagship Paramount+, which added 2.7 million subscribers to hit 63 million globally.
Total revenue came in at $7.13 billion, up 3% from the year-ago period, while adjusted earnings per share 21% to 36 cents. Analysts’ consensus called for earnings of 11 cents and revenue of $7.12 billion.
Streaming was the standout in the results, with revenue in the division surging 38% compared with the year-earlier period. Subscription revenue shot up 46% to $1.3 billion, driven by subscriber growth and P+ price hikes, plus revenue from pay-per-view events.
Paramount said it now forecasts full-year DTC losses in 2023 will be lower than in 2022, with direct-to-consumer losses in the fourth quarter lining up with those in last year’s fourth quarter.
Read more on deadline.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.