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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%.
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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