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Paramount Global has partnered with shoppable advertising company Shopsense AI for the 2024 MTV VMAs so viewers can shop the red carpet looks they're seeing in real time. Shopsense is debuting its new "Lens" at the start of the awards show, which will allow viewers to snap photos of outfits on screens and get product recommendations.
The dizzying bidding war for Paramount Global (NASDAQ:PARA) has taken yet another turn with media industry stalwart Edgar Bronfman Jr. withdrawing from the race to acquire the multinational entertainment empire.
Edgar Bronfman Jr. has upped his bid for Paramount Global, attempting to pry Paramount away from Skydance. Bronfman's initial offer lobbed on Monday night was worth $4.3 billion. He's now revised that to $6 billion. The same $2.
Investors interested in stocks from the Media Conglomerates sector have probably already heard of Paramount Global-B (PARA) and Reservoir Media, Inc. (RSVR). But which of these two stocks presents investors with the better value opportunity right now?
Paramount Global's (PARA) second-quarter results reflect softness in advertising and content-licensing revenues despite the strong adoption of Paramount+.
Paramount Global (NASDAQ:PARA ) Q2 2024 Earnings Conference Call August 8, 2024 4:30 PM ET Company Participants Jaime Morris - Executive Vice President of Investor Relations Brian Robbins - President & Chief Executive Officer, Paramount Pictures and Nickelodeon; Chief Content Officer, Movies & Kids & Family, Paramount+ Chris McCarthy - President & Chief Executive Officer, Showtime/MTV Entertainment Studios and Paramount Media Networks George Cheeks - President & Chief Executive Officer, CBS and Chief Content Officer, News and Sports, Paramount+ Naveen Chopra - Executive Vice President & Chief Financial Officer Conference Call Participants Michael Morris - Guggenheim Robert Fishman - MoffettNathanson Ben Swinburne - Morgan Stanley Rich Greenfield - LightShed Partners John Hodulik - UBS Steven Cahall - Wells Fargo Bryan Kraft - Deutsche Bank Operator Good afternoon. My name is Felicia and I'll be the conference operator today.
While the top- and bottom-line numbers for Paramount Global-B (PARA) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Paramount Global-B (PARA) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.10 per share a year ago.
Paramount Global's (PARA) second-quarter performance is expected to have been aided by the company's expanding content catalog and growing streaming services amid tepid Content-licensing revenues.
Paramount Global-B (PARA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.