Paramount Q1 revenue $7.7B (+6%); DTC losses narrow; Paramount+ subs exceed 71M

Paramount Global

2024-Q1 EPS reported -$0.87 revenue$7,685,000,000

Total revenue $7,685M (+6% YoY); GAAP diluted EPS from continuing ops $(0.88) vs $(1.81).
Adjusted OIBDA $987M (+80%); adjusted diluted EPS $0.62 vs $0.09.
DTC revenue $1,879M (+24%); Paramount+ revenue +51% with 71M+ subs; DTC Adjusted OIBDA $(286)M vs $(511)M.
TV Media revenue $5,231M (+1%); advertising up 14% led by Super Bowl LVIII; Adjusted OIBDA $1,445M (+11%).
Generated $260M net operating cash flow and $209M free cash flow in Q1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Paramount Global reported financial results for the first quarter ended March 31, 2024.

Period: the first quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On April 29, 2024, Paramount Global issued a press release announcing earnings for the first quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001193125-24-122356

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