Paramount Global Q2 Earnings Highlights: Revenue Beat, EPS Beat, Paramount+ Hits 61M Subs, Simon & Schuster Sells And More
Portfolio Pulse from Chris Katje
Paramount Global reported Q2 earnings with revenue of $7.62 billion, down 2% YoY but beating the consensus estimate of $7.43 billion. EPS was 10 cents, beating the estimate of a loss of 1 cent per share. Paramount+ hit 61 million subscribers and was the top premium streaming service in the U.S. for signups in Q2. The company also announced the sale of Simon & Schuster to KKR & Co for $1.62 billion in an all-cash deal.
August 07, 2023 | 8:42 pm
News sentiment analysis
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NEUTRAL IMPACT
KKR & Co is acquiring Simon & Schuster from Paramount for $1.62 billion in an all-cash deal.
The acquisition of Simon & Schuster could have a neutral impact on KKR's stock in the short term as the market digests the news.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Paramount Global reported better than expected Q2 earnings and announced the sale of Simon & Schuster to KKR, which could provide additional financial flexibility.
The better than expected earnings and the sale of Simon & Schuster could positively impact Paramount's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Paramount Global reported better than expected Q2 earnings and announced the sale of Simon & Schuster to KKR, which could provide additional financial flexibility.
The better than expected earnings and the sale of Simon & Schuster could positively impact Paramount's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100