Paramount Global: EPS halved in Q4

(CercleFinance.com) - On Wednesday evening Paramount Global reported adjusted EPS from continuing operations that was halved to four cents for its final quarter of 2023, as well as an adjusted OIBDA down 15% to $520m, on revenues that fell 6% to $7.
64bn. NB pmt +1.5%.

The parent company of, amongst others, CBS and Paramount Pictures saw its TV media and movie studio revenues fall by 12% and 31% respectively, declines partly offset by 34% growth in direct-to-consumer (DTC) revenues.

Paramount+ revenues were up 69%, DTC adjusted OIBDA improved for the third consecutive quarter, and we now expect to reach Paramount+ profitability in the US by 2025, management said.


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