Paramount Global reports results for the quarter ended June 30 - Earnings Summary

• Paramount Global PARA reported quarterly adjusted earnings of 46 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 54 cents. The mean expectation of sixteen analysts for the quarter was for earnings of 37 cents per share. Wall Street expected results to range from 8 cents to 54 cents per share.

• Revenue rose 0.5% to $6.85 billion from a year ago; analysts expected $6.85 billion.

• Paramount Global's reported EPS for the quarter was 8 cents​.

• The company reported quarterly net income of $57 million.

• Paramount Global shares had risen by 1.5% this quarter and gained 4.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 13.4% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy," 7 "hold" and 5 "sell" or "strong sell." The average consensus recommendation for the broadcasting peer group is "buy."

• Wall Street's median 12-month price target for Paramount Global is $12.00, about 94.1% below its last closing price of $23.29

This summary was machine generated from LSEG data July 31 at 09:36 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)