Paramount beats Q1 earnings estimates, maintains full-year revenue guidance
Paramount delivered its first-quarter results after the bell on Monday. Shares of the entertainment company rose about 5% in after-hours trading.
For Q1, Paramount reported:
Adjusted earnings of $0.23 per share, compared to Wall Street estimates of $0.15 per share from analysts polled by FactSet.
Revenue of $7.35 billion, compared to a $7.28 billion estimate.
79.6 million Paramount+ subscribers, compared to the 79.9 million consensus.
Looking ahead, the company said it expects Q2 revenue of between $6.75 billion and $7.95 billion, compared with the $7.07 billion Wall Street consensus forecast. The company maintained its full-year revenue guidance of $30 billion.
Q1 marks the company’s first earnings report since winning the bidding war for Warner Bros. Discovery in late February. As of Monday afternoon Eastern time, prediction markets speculating on which company will ultimately come out on top of the bidding war have Paramount at a 77% chance, compared to 17% for “none.”
(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)
The megadeal still faces some hurdles, including significant opposition from notable entertainment workers and potential antitrust challenges on the federal or state level. Last week, a group of subscribers sued to block the deal on antitrust grounds.
