LOS ANGELES, July 31 (Reuters) - Paramount Global ( PARAA )
posted second-quarter earnings that exceeded Wall
Street estimates on Thursday as the company prepares for a sale
to Skydance Media.
The owner of the CBS broadcast network, a film studio and
several cable channels reported adjusted earnings-per-share of
46 cents for April through June. Analysts had predicted 36 cents
per share, according to LSEG estimates.
Revenue rose 1% from a year earlier to $6.85 billion, edging
the analyst consensus of $6.84 billion.
The company said strong subscription revenue growth at the
Paramount+ streaming service helped boost affiliate and
subscription revenue. The drama series "MobLand" attracted
viewers on Paramount+.
The Paramount Pictures film studio had a hit during the
quarter with "Mission: Impossible - The Final Reckoning."
The $8.4 billion sale of Paramount to Skydance is expected
to close by Aug. 7. The U.S. government cleared the final hurdle
to the deal last week.