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Paramount Global First Quarter 2023 Earnings: Misses Expectations

Paramount Global (NASDAQ:PARA) First Quarter 2023 Results

Key Financial Results

  • Revenue: US$7.27b (flat on 1Q 2022).

  • Net loss: US$1.16b (down by 409% from US$377.0m profit in 1Q 2022).

  • US$1.79 loss per share (down from US$0.58 profit in 1Q 2022).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Paramount Global Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) also missed analyst estimates by 71%.

Looking ahead, revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Media industry in the US.

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Performance of the American Media industry.

The company's shares are down 29% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 3 warning signs for Paramount Global (2 are significant!) that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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