Paramount Global Class B

PARA: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$41.00	Ntwxb	Pqnlc

Paramount Earnings: Streaming Losses Will Still Increase in 2023 Despite Improvement

Neil Macker

Aug 8, 2023

Paramount’s direct-to-consumer segment posted strong top line growth and slightly lower EBITDA losses in the second quarter as management continues to forecast peak streaming losses in 2023. Despite the DTC growth, total revenue fell 2% year over year due to the weak theatrical slate and the ongoing decline in TV ad revenue. The firm announced it has lined up a buyer for Simon & Schuster for $1.6 billion. We are maintaining our $25 fair value estimate.

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