Paramount Skydance reported second-quarter results on Tuesday and raised its full-year profit outlook, as growth in streaming and film offset a continued decline in its cable television business.
The company boosted its full-year 2026 adjusted EBITDA target to between $3.8 billion and $3.9 billion, attributing the improvement to efficiencies unlocked by the Skydance combination, with total expected savings from that deal pegged at $3 billion
Paramount still projects total 2026 revenue of $30 billion, representing 4% growth year over year, the company said. Total revenue for the second quarter came in at $6.91 billion, up slightly from the same period a year earlier. Wall Street had expected $6.88 billion in revenue, according to CNBC.
Net earnings attributable to the company were $41 million, or 4 cents per share, compared with $57 million, or 8 cents per share, in the year-earlier quarter. The direct-to-consumer segment, encompassing Paramount+, BET+, and the ad-supported free service Pluto TV, posted a 9% revenue gain to $2.47 billion, while the film division grew 16% to $1.31 billion. TV media, dragged down by the ongoing cable decline, slipped 9% to $3.13 billion.