• Paramount Global surprised investors with a quarterly profit despite missing revenue expectations for the fourth quarter. Wall Street estimates, compiled by LSEG, had projected a loss of 1 cent per share, but Paramount reported earnings per share of 4 cents. However, revenue came in slightly lower than expected at $7.64 billion, compared to the anticipated $7.85 billion. During the last quarter of 2023, Paramount witnessed a significant improvement in profitability, reporting a profit of $514 million, or 77 cents per share, up from $21 million the previous year. 

• Notably, Paramount+, the company's streaming platform, experienced remarkable growth, reaching 67.5 million subscribers with a net increase of 4.1 million. The platform also recorded a remarkable 69% revenue surge year over year, positioning Paramount for profitability in its streaming segment by 2025. Despite these positive strides, Paramount faces challenges in its traditional TV media revenue, which declined by 12% year over year. Advertising revenue saw a 15% dip due to softness in the global advertising market and reduced political advertising. Additionally, revenue in the filmed entertainment sector dropped by 31% year over year, primarily due to decreased licensing revenue.