Shares of Paramount Global (NASDAQ: PARA) slid in pre-market trading on Thursday after the media giant reported Q4 adjusted earnings of $0.08 per share, down by 69%, and fell short of analysts’ consensus estimate of $0.24.
Revenues increased by 2% year-over-year to $8.1 billion but missed analysts’ expectations by $30 million. Paramount+, the company’s streaming service added a record 9.9 million subscribers in Q4 with its direct-to-consumer subscribers rising to more than 7 million globally.
Overall, Wall Street analysts are sidelined about PARA stock with a Hold consensus rating based on three Buys, one Hold, and three Sells.
