The group resulting from the merger has shown strong results in the first quarter, supported by Paramount’s growth and the success of its productions, while confirming its annual targets.
Paramount Skydance exceeded expectations, with a revenue of $7.35 billion, up 2% from the previous year, surpassing the anticipated $7.28 billion. The adjusted earnings per share stood at $0.23, against a forecast of $0.15. The performance is driven by streaming, with revenues increasing by 11% to $2.4 billion, including a 17% rise for Paramount and a gain of 700,000 subscribers, bringing the total to nearly 80 million. The stock rose by approximately 1.5% during after-hours trading.
The cinema business also contributed to the growth, with revenues up 11% to $1.28 billion, particularly due to the success of “Scream 7”. However, traditional television continues to decline, with a 6% drop in revenue to $3.67 billion, affected by the loss of cable channel subscribers. Net income reached $168 million, compared to $152 million the previous year, in a reorganization context following the merger with Skydance.
The group has confirmed its annual targets, aiming for $30 billion in revenue and $3.8 billion in adjusted EBITDA. It also continues its acquisition project of Warner Bros. Discovery, valued at $31 per share, with completion expected by the end of the third quarter. Additionally, Paramount Skydance maintains its goal of $3 billion in savings by 2027, focusing on streamlining its platforms and streaming development.
