Paramount falls after box office miss for 'Mission: Impossible 7'

Investing.com -- Shares in Paramount Global (NASDAQ: PARA) slipped in early U.S. trading on Monday after this weekend's domestic box office performance of the studio's latest "Mission: Impossible" action-adventure epic missed expectations.

"Mission: Impossible -- Dead Reckoning Part One," the seventh outing for the globetrotting, Tom Cruise-led franchise, amassed $56.2 million in the U.S. and Canada over the Friday-to-Sunday period, according to studio estimates. The returns were less than the $61M to $75M projected by film industry magazine Boxoffice Pro.

Over the five days since the film's premiere last Wednesday, it has raked in $80M in ticket sales. Early studio estimates had seen the figure at about $90M.

Internationally, the movie has amassed $155M despite a relatively weak showing in China. This brings the global total to $235M, the best-ever worldwide start for the franchise. Overseas returns tend to make up a signficant portion of the overall money made by "Mission" films.

But the newest installment is still some distance from surpassing its $300M budget, a tally that increased due to COVID-related delays and safety protocols. The picture also faces rising competition in the coming days with the July 21 debuts of fantasy comedy "Barbie" and historical drama "Oppenheimer."

You May Also Be Interested In

• Stripe’s OpenRouter deal signals a new race to control AI economics
• Buy this high-quality civil aerospace franchise: Goldman
• Shares in this major AI chipmakers are "inexpensive": Barclays