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Paramount
🇺🇸 NASDAQ:PARA
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Sep 30, 2023

Paramount Q3 2023 Earnings Report

Paramount's Q3 2023 earnings were released, showcasing revenue growth and subscriber gains.

Key Takeaways

Paramount reported a 3% increase in total company revenue, driven by growth in Direct-to-Consumer revenue and Paramount+ subscribers. The company narrowed DTC losses and now expects full-year DTC losses to be lower than in 2022. Paramount+ reached more than 63 million global subscribers, and the company anticipates significant total company earnings growth in 2024.

Paramount+ increased revenue by 61% and reached over 63 million global subscribers.

Global viewing hours across Paramount+ and Pluto TV grew by 46%.

DTC Adjusted OIBDA improved by 31%, and the company forecasts that DTC losses peaked in 2022.

Total affiliate and subscription revenue increased by 14%.

Total Revenue
$7.13B
Previous year: $6.92B
+3.1%
EPS
$0.3
Previous year: $0.39
-23.1%
Adjusted OIBDA
$716M
Previous year: $786M
-8.9%
Gross Profit
$2.35B
Previous year: $2.46B
-4.4%
Cash and Equivalents
$1.8B
Previous year: $3.38B
-46.7%
Free Cash Flow
$359M
Previous year: -$342M
-205.0%
Total Assets
$54.6B
Previous year: $57.3B
-4.6%

Paramount

Paramount

Paramount Revenue by Segment

Forward Guidance

Paramount expects DTC losses in 2023 will be lower than in 2022, with DTC losses in Q4’23 similar to Q4’22, and remains on the path to achieving significant total company earnings growth in 2024.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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