Total DTC subscribers rose to nearly 64 million, reflecting the removal of 3.9 million subscribers in Russia. Paramount+ Added 4.9 million subscribers.
The stock is down immediately following the report. Execs will hold a conference call at 8:30 ET.
“Paramount continues to build momentum with the assets, strategy and ability to compete—and win. said CEO Bob Bakish. “At the heart of that growth was our hugely popular content—from the cultural phenomenon and #1 movie in the world, Top Gun: Maverick, to the most popular show
in the country, Yellowstone. Our deep and growing library of valuable IP, coupled with the strength of our best-in-class assets, ensures we are well-positioned to continue to maximize value for our shareholders.”
The company posted adjusted diluted EPS from continuing operations of 64 cents, down from 97 cents. Revenue of $7.8 billion was up from $6.5 billion.