Paramount Global Q1 2024 Adj EPS $0.62 Beats $0.36 Estimate, Sales $7.685B Miss $7.732B Estimate
Portfolio Pulse from Benzinga Newsdesk
Paramount Global (NASDAQ:PARA) reported Q1 2024 adjusted earnings of $0.62 per share, surpassing the $0.36 estimate, marking a 588.89% increase from last year. However, their sales of $7.685B fell short of the $7.732B estimate, a 5.78% increase from the previous year.

April 29, 2024 | 8:04 pm
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Paramount Global reported a significant beat on adjusted EPS at $0.62 vs. the $0.36 estimate for Q1 2024, but missed sales estimates with $7.685B against the expected $7.732B.
The significant beat on the EPS estimate, coupled with a modest miss on sales forecasts, suggests a positive outlook on profitability, which could lead to a short-term positive impact on PARA's stock price. The substantial year-over-year earnings growth indicates strong operational performance, potentially outweighing the slight revenue shortfall in investors' eyes.
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