Paramount Global shares fall over 25% after weak earnings report, dividend cut

Rafael Henrique | SOPA Images | Lightrocket | Getty Imagesfell as much as 28% Thursday after it reported earnings and revenue that missed analyst estimates and cut its quarterly dividend.The company cut its dividend to 5 cents per share from 24 cents a share to "further enhance our ability to deliver long-term value for our shareholders as we move toward streaming profitability," Chief Executive Officer Bob Bakish said in a statement.

Paramount Global's traditional TV revenue, which consists of CBS and its cable networks such as MTV, Comedy Central and Nickelodeon, dropped 8% in the quarter to $5.2 billion. The company's film studio division reported a 6% drop in revenue year-over-year.

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Paramount Global Swings to Q1 Loss On Streaming InvestmentParamount Global said it would it cut its dividend as continued investment in streaming weighed on the company while it saw declines in its traditional revenue from advertising and cable distributi…
Herkunft: Variety - 🏆 108. / 63 Weiterlesen »

Paramount Global Swings To Loss On Streaming, Soft Ad Market In Rough First Quarter; Stock DropsParamount Global fell shy of Wall Street forecasts with ongoing losses in streaming exacerbated by soft advertising at its TV/Media group last quarter, and a dip in filmed entertainment as well. Th…
Herkunft: DEADLINE - 🏆 109. / 63 Weiterlesen »