Paramount reports revenue of $7.3B in Q1 - Breaking The News

Paramount reports revenue of $7.3B in Q1

4 May

1 min read

UNSPLASH / BOLIVIAINTELIGENTE

Paramount Global said on Thursday that its revenue in the first quarter of 2023 declined 1% year on year to $7.3 billion, missing estimates.

GAAP operating loss stood at $1.2 billion, worsening from an operating income of $775 million reported in the same quarter in 2022 and diluted loss per share hit $1.81, down from earnings per share of $0.58 reported a year earlier.

"Paramount continues to demonstrate the strength of its content engine, driving momentum across streaming, television and theatrical. This resulted in Paramount+ and Pluto TV reaching significant milestones with 60 million subscribers and 80 million MAUs [monthly active users], respectively, while CBS is poised to claim the #1 spot in broadcast for the 15th straight season," CEO Bob Bakish stated.

Paramount shares dropped 10.88% in premarket trading on worse-than-expected results.

earnings paramount global

Related Stocks

Paramount Global

Morgan Stanley's Q1 revenue up by 17.2% to $17.7B

5 hours ago

Morgan Stanley announced on Friday that its net revenue in the first quarter of the fiscal year 2025 saw an annual rise of 17.2% to hit $ 17.7 billion. The bank's net income increased by 26.5% compared to the same period the year before to reach $4.3 billion. Its diluted earnings per share (EPS) grew by 28.7% year-on-year to $2.60. Meanwhile, its return on tangible common equity (ROTCE) went from 19.7% to 23%."Total client assets of $7.7 trillion across...

Wells Fargo's Q1 revenue down 3% to $20.15 billion

5 hours ago

Wells Fargo & Company announced on Friday that its revenue in the first quarter of fiscal 2025 stood at $20.15 billion, dropping 3% compared to the same period a year prior. Meanwhile, its net income rose by 6% in the reported period, landing at $4.9 billion, while diluted earnings per share (EPS) came in at $1.39, surging 16% year-over-year."We produced solid results with diluted earnings per share increasing 16% from a year ago reflecting fee-based revenue...

JPMorgan's Q1 revenue up 8% to $46 billion

5 hours ago

JPMorgan Chase & Co. announced on Friday that its managed revenue in the first quarter of its fiscal 2025 reached $46 billion, jumping 8% year over year and beating expectations. In the reported trimester, on an annual basis, net income climbed 9% to $14.6 billion, while diluted earnings per share advanced 14% to $5.07."The economy is facing considerable turbulence (including geopolitics), with the potential positives of tax reform and deregulation and the...

BlackRock's revenue in Q1 up 12% to $5.3 billion

6 hours ago

BlackRock Inc. shared on Friday that its revenue in the first quarter of its fiscal 2025 came in at $5.3 billion, growing 12% compared to the same three-month period in 2024.Meanwhile, net income in the first trimester landed at $1.5 billion, down 4% on an annual basis, while diluted earnings per share tumbled 8% to $9.64. Operating income was virtually unchanged at $1.7 billion."BlackRock's positioning and connectivity with clients are stronger than...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.