Overview

• Paramount Global reported second-quarter revenue of $6.85 billion, a 1% year-over-year increase, and swung to a $57 million profit from a $5.4 billion loss a year earlier.
• Paramount+ revenue rose 23% and direct-to-consumer operating income improved by $131 million to $157 million even as the service lost 1.3 million subscribers due to an expired international bundle deal.
• Theatrical revenue jumped 84%, led by Mission: Impossible – The Final Reckoning’s nearly $600 million global box office haul.
• TV media revenue declined 6% and affiliate fees were down 7% in Q2, though combined affiliate and subscription revenue across the company grew 5%.
• The FCC has approved Paramount’s $8.4 billion merger with Skydance Media, set to close on August 7, ending Redstone family control and relaunching the combined company under the ticker PSKY.