((Translation automated by Reuters using automatic learning and generative AI, please refer to the following warning: https://bit.ly/rtrsauto)) by Lisa Richwine
Paramount Global Para.O published a profit in the second quarter superior to Wall Street on Thursday, while the company is preparing to be sold in Skydance Media.
The owner of the CBS broadcasting network, a film studio and several cable channels declared a profit per adjusted action of 46 cents for the period from April to June. Analysts had planned 36 cents per share, according to LSEG estimates.
Turnover increased by 1 % compared to the previous year to reach $ 6.85 billion, exceeding the consensus of analysts, which was $ 6.84 billion.
The company said that the strong growth in subscription income from the Paramount+ streaming service has helped stimulate affiliation and subscription income. The dramatic series “Mobland” attracted viewers to Paramount+.
The Paramount Cinema Studio Pictures was successful during the quarter with “Mission: Impossible – The Final Reckoning”.
The sale of Paramount in Skydance, for an amount of $ 8.4 billion, is expected to be finalized by August 7. The US government has raised the last obstacle to the transaction last week.
