Paramount Global reports strong subscriber growth amid revenue dip

Grafa2024-11-08

Paramount Global (NASDAQ:PARA) unveiled its third-quarter financial results today, showcasing a significant surge in its direct-to-consumer (DTC) operations, despite a shortfall in overall revenue.

The entertainment giant reported an operating income of $49 million for its DTC segment, marking a substantial $287 million improvement from the same quarter last year.

The company's streaming service, Paramount+, continued to expand its customer base, adding 3.5 million new subscribers this quarter.

This increase boosts its total to 72 million subscribers, reinforcing its position as the fourth-largest global subscription video-on-demand (SVOD) service.

Despite these gains, Paramount's total revenue for the quarter stood at $6.73 billion, failing to meet the Bloomberg consensus expectations of $6.95 billion and reflecting a 6% decrease from the $7.13 billion reported in the third quarter of 2023.

On a brighter note, adjusted earnings per share rose to $0.49 from $0.30 in the year-earlier period, comfortably surpassing consensus expectations which had anticipated earnings of around $0.23 per share.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2481608174?lang=en_US&edition=full_marsco","thumbnail":"https://images.grafa.com/grafa/media-entertainment-paramount-global-reports-strong-subscriber-growth-amid-revenue-dip-306478-638666663881356303.jpeg","is_english":true,"pubTime":"2024-11-08 20:39","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2481608174","market":null,"top_or_hot":-1,"title":"Paramount Global reports strong subscriber growth amid revenue dip","media":"Grafa","content":"<img alt=\"\" src=\"https://images.grafa.com/grafa/media-entertainment-paramount-global-reports-strong-subscriber-growth-amid-revenue-dip-306478-638666663881356303.jpeg\"/><p><a href=\"https://laohu8.com/S/PARA\">Paramount Global</a> <a href=\"https://grafa.com/asset/paramount-global-class-a-14668-para.nasdaq\">(NASDAQ:PARA)</a> unveiled its third-quarter financial results today, showcasing a significant surge in its direct-to-consumer (DTC) operations, despite a shortfall in overall revenue.</p>\n<p>The entertainment giant reported an operating income of $49 million for its DTC segment, marking a substantial $287 million improvement from the same quarter last year.</p>\n<p>The company's streaming service, Paramount+, continued to expand its customer base, adding 3.5 million new subscribers this quarter.</p>\n<p>This increase boosts its total to 72 million subscribers, reinforcing its position as the fourth-largest global subscription video-on-demand (SVOD) service.</p>\n<p>Despite these gains, Paramount's total revenue for the quarter stood at $6.73 billion, failing to meet the Bloomberg consensus expectations of $6.95 billion and reflecting a 6% decrease from the $7.13 billion reported in the third quarter of 2023.</p>\n<p>On a brighter note, adjusted earnings per share rose to $0.49 from $0.30 in the year-earlier period, comfortably surpassing consensus expectations which had anticipated earnings of around $0.23 per share.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Paramount Global reports strong subscriber growth amid revenue dip</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nParamount Global reports strong subscriber growth amid revenue dip\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1019687050\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/b5820fc70e21f7eb65d05d7a2a3e6c15);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Grafa </p>\n<p class=\"h-time\">2024-11-08 20:39</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<img alt=\"\" src=\"https://images.grafa.com/grafa/media-entertainment-paramount-global-reports-strong-subscriber-growth-amid-revenue-dip-306478-638666663881356303.jpeg\"/><p><a href=\"https://laohu8.com/S/PARA\">Paramount Global</a> <a href=\"https://grafa.com/asset/paramount-global-class-a-14668-para.nasdaq\">(NASDAQ:PARA)</a> unveiled its third-quarter financial results today, showcasing a significant surge in its direct-to-consumer (DTC) operations, despite a shortfall in overall revenue.</p>\n<p>The entertainment giant reported an operating income of $49 million for its DTC segment, marking a substantial $287 million improvement from the same quarter last year.</p>\n<p>The company's streaming service, Paramount+, continued to expand its customer base, adding 3.5 million new subscribers this quarter.</p>\n<p>This increase boosts its total to 72 million subscribers, reinforcing its position as the fourth-largest global subscription video-on-demand (SVOD) service.</p>\n<p>Despite these gains, Paramount's total revenue for the quarter stood at $6.73 billion, failing to meet the Bloomberg consensus expectations of $6.95 billion and reflecting a 6% decrease from the $7.13 billion reported in the third quarter of 2023.</p>\n<p>On a brighter note, adjusted earnings per share rose to $0.49 from $0.30 in the year-earlier period, comfortably surpassing consensus expectations which had anticipated earnings of around $0.23 per share.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7016","symbol_name":"应用软件","start_time":0,"source_url":"https://grafa.com/news/entertainment-paramount-global-reports-strong-subscriber-growth-amid-revenue-dip-306478?referralcode=A314DFDBE96C354756A893C6E3E02493","article_id":"2481608174","we_media_id":"1019687050","thumbnails":["https://images.grafa.com/grafa/media-entertainment-paramount-global-reports-strong-subscriber-growth-amid-revenue-dip-306478-638666663881356303.jpeg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481608174","pubTimestamp":1731069588,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Grafa","introduction":"Grafa generates AI-driven data, news and analysis about NYSE, Nasdaq and ASX stocks as well as forex, crypto and economic news. News is generated in near real-time due to Grafa's unique data-led approach to media content generation.","home_visible":1,"id":"1019687050","head_image":"https://static.tigerbbs.com/b5820fc70e21f7eb65d05d7a2a3e6c15"},"summary":"Paramount Global  unveiled its third-quarter financial results today, showcasing a significant surge in its direct-to-consumer  operations, despite a shortfall in overall revenue.The entertainment giant reported an operating income of $49 million for its DTC segment, marking a substantial $287 million improvement from the same quarter last year.The company's streaming service, Paramount+, continued to expand its customer base, adding 3.5 million new subscribers this quarter.This increase boosts its total to 72 million subscribers, reinforcing its position as the fourth-largest global subscription video-on-demand  service.Despite these gains, Paramount's total revenue for the quarter stood at $6.73 billion, failing to meet the Bloomberg consensus expectations of $6.95 billion and reflecting a 6% decrease from the $7.13 billion reported in the third quarter of 2023.On a brighter note, adjusted earnings per share rose to $0.49 from $0.30 in the year-earlier period, comfortably surpassing ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7016":"应用软件","DTC.AU":"DAMSTRA HOLDINGS LTD"},"translate_title":"派拉蒙全球报告在收入下降的情况下用户强劲增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DTC.AU":1},"content_text":"Paramount Global (NASDAQ:PARA) unveiled its third-quarter financial results today, showcasing a significant surge in its direct-to-consumer (DTC) operations, despite a shortfall in overall revenue.\nThe entertainment giant reported an operating income of $49 million for its DTC segment, marking a substantial $287 million improvement from the same quarter last year.\nThe company's streaming service, Paramount+, continued to expand its customer base, adding 3.5 million new subscribers this quarter.\nThis increase boosts its total to 72 million subscribers, reinforcing its position as the fourth-largest global subscription video-on-demand (SVOD) service.\nDespite these gains, Paramount's total revenue for the quarter stood at $6.73 billion, failing to meet the Bloomberg consensus expectations of $6.95 billion and reflecting a 6% decrease from the $7.13 billion reported in the third quarter of 2023.\nOn a brighter note, adjusted earnings per share rose to $0.49 from $0.30 in the year-earlier period, comfortably surpassing consensus expectations which had anticipated earnings of around $0.23 per share.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.32.1","shortVersion":"4.32.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481608174"}