00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Paramount Skydance beat first quarter revenue and earnings estimates as growth in streaming
00:07and film-boosted results, according to CNBC. The media conglomerate reported adjusted earnings of
00:1323 cents per share on $7.35 billion in revenue for the first quarter, beating estimates of 15
00:20cents per share and $7.28 billion. Revenue rose 2% year-over-year at nearly $7.35 billion in
00:28first quarter revenue as streaming and film growth offset declines in TV media. Streaming revenue
00:33increased 11% to $2.4 billion, while Paramount Plus added 700,000 subscribers and grew revenue 17%
00:41to nearly 80 million total subscribers. The company reaffirmed its full-year outlook of $30 billion
00:46in revenue and $3.8 billion in adjusted EBITDA. It expects to complete its Warner Brothers Discovery
00:54acquisition by the end of the third quarter. For all things money, visit Benzinga.com.
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