Yahoo Finance Paramount Global (NASDAQ:PARA) Q1 2024 Earnings Call Transcript
Paramount Global (NASDAQ:PARA) Q1 2024 Earnings Call Transcript April 29, 2024
Paramount Global beats earnings expectations. Reported EPS is $0.62, expectations were $0.34. PARA isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
Operator: Good afternoon. My name is Harry and I'll be your conference operator today. I would like to welcome everyone to Paramount Global's Q1 2024 Earnings Conference Call. At this time, I would now like to turn the call over to Jaime Morris, Paramount Global's EVP Investor Relations. You may now begin your conference call.
Jaime Morris: Good afternoon, everyone. Thank you for taking the time to join us for our first quarter 2024 earnings call. Joining me for today's discussion is Naveen Chopra, our CFO, and to make some brief introductory remarks on behalf of our new Office of the CEO, we also have George Cheeks, Chris McCarthy, and Brian Robbins. Before we start, please note that in addition to our earnings release, we have trending schedules containing supplemental information available on our website. Also, I want to remind you that certain statements made on this call are forward-looking statements that involve risks and uncertainties. These risks and uncertainties are discussed in more detail on our filings with the SEC. Some of today's financial remarks will focus on adjusted results.
Reconciliations of these non-GAAP financial measures can be found in our earnings release or in our trending schedules, which contain supplemental information. And in each case, these can be found in the Investor Relations section of our website. I also want to note that we will not be taking questions following our prepared remarks. The main purpose of today's call is to provide you with the information regarding our first quarter 2024 performance. Now, I will turn the call over to George.
George Cheeks: Thanks, Jaime. First, we want to thank Bob, for his many years of leadership and steadfast support for all Paramount Global businesses, brands, and people. Now Chris, Brian, and I want to speak briefly on our partnership, our excitement about this collaboration, and what we're addressing as our first order of business. Let me start by saying that Paramount Global, has the greatest content in the world. That is the most important point. We've got incredible assets at this company, both in what we produce and the amazing people who make it all possible. Everything will build from that. And now over to Chris.
Chris McCarthy: Thank you, George. And just as important is the fact that we've all worked together collaboratively for years, and have known each other for decades. It's a true partnership. We have a deep respect for one another, and we're going to lead and manage this company together. On that note, we're finalizing a long-term strategic plan to best position this storied company, to reach new and greater heights in our rapidly changing world. The plan is focused on three pillars. First, make the most of our hit content. Second, strengthen our balance sheet. And third, optimize our streaming strategy. And now here's Brian.
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