Company raises full-year guidance following $6.91 billion Q2 revenue, driven by 9% streaming growth and cost cuts.
Paramount Skydance raised its full-year profit guidance after reporting second-quarter revenue of $6.91 billion, topping the $6.88 billion estimate. Net earnings fell to $41 million from $57 million a year earlier, though adjusted EPS exceeded expectations.
Streaming revenue climbed 9% to $2.47 billion, led by Paramount+, while film studios revenue rose 16% to $1.31 billion. Traditional TV media revenue declined 9% to $3.13 billion, reflecting broader industry challenges. Cost reductions and improved margins offset linear TV weakness.
The company cited strong retention for Paramount+ and creative execution in its TV business as key drivers. Shares remained steady as investors weighed the mixed results against merger confidence with Warner Bros. Discovery.