Revenue reached $7.347bn against a $7.28bn forecast, EPS matched 15 cents, and Paramount+ added 700,000 subscribers to 79.6 million, below the expected 1 million.
Direct-to-consumer revenue rose 11% to $2.4bn, helped by UFC rights moving to Paramount+, while TV media revenue fell to $3.7bn as cord-cutting continued.
Paramount said it is making significant progress on its planned Warner Bros. Discovery deal, expects accelerating streaming revenue and profit in 2026, and remains on track for $3bn in cost savings.
Will a staggering $79 billion debt load sink the new Paramount-Warner empire before it can challenge Netflix?
With massive cost-cutting inevitable, which beloved HBO and Paramount shows will be the first to face the axe post-merger?