Paramount Global Stock Soars On Q3 Performance - Here's Why
Portfolio Pulse from Erica Kollmann
Paramount Global's Q3 financial report exceeded analyst expectations, with adjusted earnings of 30 cents per share and quarterly revenue of $7.13 billion. The company reported a 46% growth in global viewing hours across Paramount+ and Pluto TV, and a 61% growth in Paramount+ revenue. Paramount+ added 2.7 million subscribers in Q3, bringing the total to over 63 million. The company's shares rose by 11.60% after hours.
November 02, 2023 | 8:46 pm
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Paramount Global's strong Q3 report, which exceeded expectations, and the growth in Paramount+ subscribers and revenue, led to an 11.60% increase in the company's shares after hours.
The company's strong Q3 performance, which beat analyst expectations, and the significant growth in Paramount+ subscribers and revenue, are positive indicators for the company's financial health and future prospects. This has likely contributed to the increase in the company's share price after hours.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100