Paramount reports Q2 adjusted EPS 46c, consensus 37c

Reports Q2 revenue $6.849B, consensus $6.88B. Statement from George Cheeks, Christ McCarthy, and Brian Robbins, Co-CEOs: “Our goal when we became co-CEOs was to transform Paramount (PARAA) (PARA) into a streaming first company and today we are substantially better positioned with streaming revenue growth outpacing linear declines, driven by exceptional performance at Paramount+. We saw the largest viewership growth among all subscription services in the US, up 26% vs. the first half of 2024, driven by continued strong content at Paramount+ where we again had the most Top 10 SVOD Originals, behind only the market leader, and churn achieved a record low. CBS content drove nearly half of all viewing on Paramount+ and ranked as the most watched broadcast network for the 17th consecutive season. These impressive results are thanks to our talented teams and creative partners for whom we are very grateful for their continued creativity, dedication and hard work.”