The earnings call highlights Paramount Global's strong performance in DTC subscriber growth, cost reduction efforts, and impressive content achievements. Despite some challenges in licensing revenue and ongoing issues with Nielsen, the overall outlook remains positive with expectations for continued growth and profitability in key segments.

Company Guidance

During Paramount Global's Q3 2024 earnings call, the company reported several impressive metrics reflecting their strategic progress. Paramount+ added 3.5 million subscribers, reinforcing its position as the #4 global streaming service, with its subscription revenue growing by 27% year-over-year. The company achieved profitability in its Direct-to-Consumer (DTC) segment for the second consecutive quarter, with adjusted OIBDA improving by over $1 billion over the past four quarters. Paramount Global is on track to realize $500 million in annual run-rate savings through cost reductions, including a 15% reduction in its U.S.-based workforce, with 90% of these reductions completed. In addition, the company reported record political ad spend and strong demand in digital advertising, contributing to a 2% increase in total company advertising revenue, led by an 18% growth in DTC advertising. Looking ahead, Paramount Global expects to achieve Paramount+ domestic profitability in 2025 and continues to explore strategic partnerships to enhance value.

Strong DTC Performance

Paramount+ added 3.5 million subscribers, reinforcing its position as the #4 global streaming service, with revenue growth up 25% year-over-year. D2C achieved profitability for the second consecutive quarter with adjusted OIBDA improving more than $1 billion over the past 4 quarters.

Cost Reductions and Savings

The company executed cost reductions that will result in $500 million in annual run rate savings, and reduced its U.S.-based workforce by 15%, with 90% of reductions already executed.

Impressive Content Performance

Paramount+ and Pluto TV showed strong engagement, with Pluto delivering its highest consumption ever, up 5% to 5.6 billion viewing hours. Paramount+ saw hits like 'Tulsa King' break records as the #1 global debut in its history.

Improved Advertising Revenue

Total company advertising grew 2%, with D2C advertising up 18%. Digital ad growth was strong, showing notable increase in demand year-over-year.

Strong Financial Results

Adjusted OIBDA was $858 million in the quarter, up 20% year-over-year, reflecting significant improvement in the D2C business.

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Paramount Global Class B (PARA) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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PARA Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 02, 2018	2018 (Q2)	- / 1.12	1.04	7.69% (+0.08)	―	―
Nov 01, 2018	2018 (Q3)	- / 1.24	1.11	11.71% (+0.13)	―	―
Feb 14, 2019	2018 (Q4)	- / 1.50	1.2	25.00% (+0.30)	―	―
May 02, 2019	2019 (Q1)	- / 1.37	1.34	2.24% (+0.03)	―	―
Aug 08, 2019	2019 (Q2)	- / 1.16	1.12	3.57% (+0.04)	―	―
Nov 12, 2019	2019 (Q3)	- / 0.95	1.24	-23.39% (-0.29)	―	―
Feb 20, 2020	2019 (Q4)	- / 0.97	1.5	-35.33% (-0.53)	―	―
May 07, 2020	2020 (Q1)	- / 1.13	1.37	-17.52% (-0.24)	―	―
Aug 06, 2020	2020 (Q2)	- / 1.25	1.16	7.76% (+0.09)	―	―
Nov 06, 2020	2020 (Q3)	- / 0.91	0.95	-4.21% (-0.04)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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PARA Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 08, 2024	$11.48	$11.02	-4.01%
Aug 08, 2024	$10.12	$10.20	+0.79%
Apr 29, 2024	$12.08	$11.23	-7.04%
Feb 28, 2024	$10.86	$10.84	-0.18%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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