- Paramount Global (NASDAQ:PARA) reported a first-quarter FY23 revenue decline of 1% year-on-year to $7.265 billion, missing the consensus of $7.420 billion.
- Total global viewing hours across Paramount+ and Pluto TV increased by over 50% Y/Y and over 20% Q/Q.
- Paramount+ added 4.1 million subscribers in the quarter, bringing Paramount+’s total subscribers to 60 million.
- Pluto TV grew global Monthly Active Users to 80 million.
- TV Media revenue fell 8% Y/Y to $5.19 billion. TV Media: Advertising revenue decreased 11% Y/Y, Affiliate subscription revenue declined 1% Y/Y, and Licensing and other revenue declined 15% Y/Y.
- Direct-To-Consumer revenue grew 39% Y/Y to $1.51 billion. Direct-To-Consumer: Subscription revenue grew 50% Y/Y to $1.11 billion, reflecting paid subscriber growth on Paramount+. Advertising revenue increased 15% Y/Y to $398 million.
- Filmed Entertainment revenue decreased 6% Y/Y to $588 million, reflecting the timing and mix of releases and lower consumer products licensing revenues.
- Adjusted EPS of $0.09 missed the consensus of $0.17.
- Paramount held $2.11 billion in cash and equivalents.
- Price Action: PARA shares traded lower by 17.1% at $18.93 premarket on the last check Thursday.
Standard Lithium And Equinor Enters Partnership To Accelerate The Development Of Sustainable Lithium Projects In The Smackover Formation
Standard Lithium Ltd. ("Standard Lithium" or the "Company") (TSXV:SLI) (NYSE:SLI) (FRA:S5L), a leading near-commercial lithium development company, today announced the closing of a landmark strategic partnership (the
