Paramount reports Q3 adjusted EPS 49c, consensus 24c

Reports Q3 revenue $6.73B, consensus $6.95B. “Our hit content drove strong performance in Q3 where Paramount (PARA)+ added 3.5 million new subscribers, solidifying our position as the #4 global SVOD service. Our DTC segment successfully delivered profitability for the second quarter in a row, improving by more than $1 billion over the past four quarters, and, across the company, we continue to successfully execute non-content cost reductions that will result in $500 million in annual run rate savings. With two very strong quarters under our belt, it’s evident that we have clear momentum and that our plan is working thanks to our very talented teams and creative partners.”