'Top Gun: Maverick' boosts Paramount Global's film results, but streaming investments are a drag on the company's bottom line in the third quarter
Paramount Global reached nearly 67.0 million streaming subscribers worldwide as of the end of September, up from 63.7 million as of the end of June. But streaming investments and cord-cutting continued to be a drag on the bottom line, with several financial results falling below analysts’ expectations.“This is a tough quarter for Paramount as linear pressures appear to be worsening while direct-to-consumer revenue growth is slowing,” Wells Fargo analyst Steven Cahall wrote in a first reaction.
significantly down year-over-year. On the call, we think management will be looking to provide efficacy of the pivot to streaming.”
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