Paramount's Q2: Streaming biz profit, writes down cable networks

Yahoo Finance Video
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Paramount Global (PARA, PARAA) reported mixed second quarter results. Adjusted earnings of $0.54 per share was well above the $0.13 analysts polled by Bloomberg were expecting. Revenue was $6.81 billion versus the $7.24 billion estimate.

The company also reported that its direct-to-consumer business posted a profit for the first time, though Paramount+ subscribers fell.

Like rival Warner Bros. Discovery (WBD), Paramount has decided to take a $5.98 billion goodwill impairment charge for its Cable Networks unit.

Yahoo Finance senior reporter Alexandra Canal recaps the results in the video above. 

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This post was written by Stephanie Mikulich.