Paramount reports lower Q2 profit as streaming gains offset TV losses

Paramount Skydance announced that its second-quarter profit fell to $41 million, or four cents per share, down from $57 million a year earlier. Total revenue rose modestly by 1% to $6.91 billion, yet the company’s largest segment—television—experienced a 9% revenue decline, reaching $3.12 billion, as advertising revenue dropped 14% and distribution fees fell 6% due to weaker linear subscriptions. In contrast, the streaming business posted a 9% revenue increase to $2.5 billion, with Paramount+ contributing a 16% rise and attracting two million additional subscribers, its strongest quarter for subscriber retention.

The company credited events such as FIFA World Cup broadcasts in parts of Latin America and UFC fights in the United States for the streaming boost. CEO David Ellison reiterated confidence in the planned acquisition of Warner Bros. Discovery, stating the deal remains on track despite legal setbacks.