Wed, Feb 26, 10:24 PM (60 days ago)
**Paramount Global (PARA) 2024 Financial Summary** For the fiscal year ended December 31, 2024, Paramount Global reported revenues of $29,213 million, a slight decline of 1% from $29,652 million in 2023. The company experienced a significant operating loss of $5,269 million, impacted by $6,130 million in impairment charges, primarily related to its Cable Networks reporting unit. Net loss from continuing operations attributable to Paramount was $6,204 million, translating to a diluted EPS of $(9.36), a stark decrease from $(2.06) in 2023. The Direct-to-Consumer segment saw revenue growth of 13% to $7,632 million, driven by a 15% increase in Paramount+ subscribers to 77.5 million. The TV Media segment, however, faced a 7% revenue decrease, primarily due to lower licensing revenues. Strategically, Paramount is in the process of merging with Skydance Media to form a new entity, New Paramount, with an anticipated investment of $6 billion from NAI Equity Investors. This transaction is expected to close in H1 2025, subject to regulatory approvals. Risks include potential litigation and market volatility affecting stock performance. Overall, Paramount's financial condition reflects significant challenges in its traditional media operations while showing promise in its streaming segment.