Paramount Global reports results for the quarter ended March 31 - Earnings Summary

• Paramount Global PARAA.OQ reported quarterly adjusted earnings of 29 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of 62 cents. The mean expectation of sixteen analysts for the quarter was for earnings of 27 cents per share. Wall Street expected results to range from 9 cents to 78 cents per share.

• Revenue fell 6.4% to $7.19 billion from a year ago; analysts expected $7.10 billion.

• Paramount Global's reported EPS for the quarter was 22 cents​.

• The company reported quarterly net income of $152 million.

• Paramount Global shares had risen by 0.6% this quarter and gained 2.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 35.3% 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," 8 "hold" and 4 "sell" or "strong sell." The average consensus recommendation for the broadcasting peer group is also "hold"

• Wall Street's median 12-month price target for Paramount Global is $11.50

This summary was machine generated from LSEG data May 8 at 09:00 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)