Paramount Global (NASDAQ: PARA; PARAA) has announced financial results for the third quarter of 2024, reporting a 6% decrease in revenues.
- Third-quarter revenue decreased 6% year-over-year to $6.73 billion
- DTC revenue increased by 10% during the three months, while TV Media revenues decreased by 6%
- At $590 million, Filmed Entertainment revenue was down 34%
- The company reported net income attributable to shareholders of $1 million for Q3, compared to $295 million or $0.43 per share last year
- Operating income decreased to $337 million in the September quarter from $621 million in the year-ago quarter
- Total costs and expenses came in at $6.39 billion in Q3, vs. 6.51 billion a year earlier