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Paramount Skydance
topped Wall Street’s revenue and earnings estimates for the first quarter on Monday, as the media company got a boost from its streaming and film businesses.
The company reported nearly $7.35 billion in first-quarter revenue, up 2% from the prior year, and lifted by the overall streaming business — which includes Paramount+, as well as BET+ and the free, ad-supported service Pluto.
Revenue for the streaming unit grew 11% to $2.4 billion compared to the same period last year. Paramount+, the flagship of the company’s streaming portfolio, added 700,000 subscribers during the quarter and grew revenue 17% year over year.
