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Paramount falls short of revenue expectations but posts surprise profit, strong streaming results

Paramount+ reached 67.5 million subscribers during the period, a net increase of 4.1 million, and recorded 69% revenue growth year over year.

Paramount — home to brands such as CBS, Showtime, BET, Nickelodeon and its namesake movie studio — reported a 6% year-over-year revenue decline but posted notable strides in its streaming segment. "Looking ahead, we continue to be focused on maximizing the return on our content investments and scaling streaming, while transforming the cost base of our business," CEO Bob Bakish said in a press release. Paramount has been exploring sale options for all or parts of its business in recent months as the media landscape rapidly changes.

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