Paramount Beats Q2 Forecasts as Streaming Gains Bolster Pre-Skydance Sale

Paramount Global delivered stronger-than-expected second-quarter results in what is likely its final report before a planned sale to Skydance Media. Adjusted earnings from continuing operations rose to $0.46 a share, beating the $0.36 consensus estimate, while revenue edged up 1% to $6.85 billion, narrowly topping forecasts. The company credited cost controls and an expanding streaming business for the improvement. Paramount+ added subscribers to reach 77.7 million and lifted revenue 23% from a year earlier, helping direct-to-consumer sales climb 15% to $2.16 billion. Adjusted operating income before depreciation and amortization increased to $824 million. Those gains offset a 6% decline in traditional television revenue, which fell to $4.01 billion amid weaker advertising and linear distribution. The upbeat quarter comes days before Skydance is expected to complete its acquisition of Paramount, ending the Redstone family’s decades-long control of the media group. Chair Shari Redstone said the company has made "substantial progress" in streamlining operations and building a foundation for long-term growth, positioning the incoming owners to capitalize on momentum in streaming.