US entertainment giant Paramount Skydance reported mixed second-quarter results, as revenue growth in its streaming and studio segments offset a decline in its television unit. Revenue rose 1 percent to 6.91 billion dollars, topping the 6.88 billion dollars expected by analysts polled by LSEG, but net profit came in at 41 million dollars, or 4 cents per share, missing the forecast of 109 million dollars, or 9 cents per share. Streaming revenue grew 9 percent year-on-year to roughly 2.5 billion dollars, with flagship service Paramount Plus adding 2 million subscribers to reach 81.6 million. Meanwhile, television revenue fell 9 percent to 3.1 billion dollars. The company is pursuing a 110 billion dollar acquisition of Warner Bros. Discovery, but 12 states have sued to block the deal, and the parties have agreed to pause proceedings pending a federal district court ruling.
Paramount Skydance Corporation Class B Common StockRevenue beat but profit missed; mixed results with streaming growth offset by TV decline.
Warner Bros Discovery IncAcquisition of Paramount faces lawsuit from 12 states, proceedings paused.
