Paramount Misses Quarterly Revenue Estimates On Weak Ad Sales
Paramount Global on Tuesday said it added over 6 million streaming subscribers in the first quarter but missed revenue estimates, hurt by weak growth in advertising sales. The company’s results come at a time when Wall Street has raised concerns over the long-term viability of streaming as the pandemic boom ebbs out. Net earnings attributable to Paramount fell to $433 million, from $911 million a year earlier.
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