Overview

• Streaming revenue rose 12% year over year in the second quarter of 2025.
• U.S. linear advertising sales fell 18% as cord-cutting trends persisted.
• Direct paid streaming subscribers climbed to 10.4 million after recalibrating counts to exclude non-paying accounts.
• Adjusted earnings per share reached $0.69 on $600 million in revenue, topping analysts’ forecasts of $0.61 and $583 million.
• The company projected roughly $250 million in free cash flow for 2025 based on stronger streaming performance.