By Connor Hart
Paramount Global swung to a loss in the fourth quarter hurt by restructuring charges and other costs, though revenue rose.
The entertainment company on Wednesday posted a loss of $224 million, or 33 cents a share, compared with a profit of $514 million, or 77 cents a share, a year earlier.
On an adjusted basis, Paramount reported a loss of 11 cents a share from continuing operations. Analysts surveyed by FactSet expected a per-share earnings of 13 cents.
Revenue increased 5% to $7.94 billion but missed the $8.1 billion that analysts modeled.
The company's direct-to-consumer segment, which includes its Paramount+ streaming service, posted revenue of $2.01 billion, up 8% from last year. Paramount+ revenue rose 16%, boosted by more subscribers.
Filmed entertainment revenue jumped 67% to $1.08 billion, driven by the theatrical releases of "Gladiator II" and "Sonic the Hedgehog 3," the company said.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
February 26, 2025 16:48 ET (21:48 GMT)
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