Paramount Reports Q1 Profit, Streaming Losses Narrow Ahead of Skydance Merger
Paramount Global swung to a first-quarter profit and significantly reduced streaming losses, surpassing Wall Street expectations. The company reported adjusted earnings per share of $0.62 on revenue of $7.45 billion, beating analyst forecasts. Paramount+ added 5.3 million subscribers, bringing its total to 77.5 million, while direct-to-consumer losses narrowed to $286 million from $498 million a year earlier. The results come as Paramount prepares to merge with Skydance Media, a deal expected to close in the second half of 2025. The company's TV media segment saw a 10% decline in advertising revenue, while film revenue rose 15% driven by theatrical releases. Paramount also announced a $1 billion cost-cutting plan, including layoffs and real estate consolidation. CEO Bob Bakish said the company is "executing on our strategic plan" and remains focused on transforming for the future.
Key facts
- Paramount swung to a Q1 profit with adjusted EPS of $0.62.
- Revenue reached $7.45 billion, beating estimates.
- Paramount+ added 5.3 million subscribers, total 77.5 million.
- Streaming losses narrowed to $286 million from $498 million.
- Paramount is merging with Skydance Media, expected close H2 2025.
- TV ad revenue fell 10%, film revenue rose 15%.
- Company announced $1 billion cost-cutting plan including layoffs.
- CEO Bob Bakish cited execution of strategic plan.
Entities
Institutions
- Paramount Global
- Skydance Media
- Paramount+
Sources
- Quartz —