Paramount Global (PARA) Tops Q3 EPS by 19c
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Go back to Paramount Global (PARA) Tops Q3 EPS by 19c
November 6, 2023 10:19 AM EST
Paramount Global (NASDAQ: PARA) is hard to buy if there is no sale, according to BofA analyst Jessica Reif Ehrlich, who double downgraded the stock to Underperform from Buy and lowered the price target to $9 from $32 in a note Monday.
The analyst explained... More
November 3, 2023 6:54 AM EDT
Paramount Global (NASDAQ: PARA) gained 4% in early trading Friday following a third-quarter earnings beat driven by Paramount+ growth.
Paramount earnings per share rose 71% from last year to $0.30, easily beating the analyst estimate of $0.11.
Revenue for the quarter rose 3% to $7.13 billion, in-line with the consensus. Direct-to-consumer revenue beat estimates, rising 38% in the year, driven by strong subscription and advertising revenue. Meanwhile, TV Media was lower-than-expected
Paramount+ subscribers reached more than 63 million, driven by 2.7 million net additions in the quarter. This beat the consensus of 2 million net additions.
Subscription revenue at the... More
