CryptoCurrency
Bitcoin price hits $62.6K as Fed 'crisis' move sparks US stocks warning
Bitcoin price action may have to diverge from stocks if history repeats itself after a bumper Fed rate cut, analysis warns.
Trump’s election win sparked a surge in searches, indicating increased retail investor interest in the digital asset.
Learn how proof-of-history works and what advantages and challenges it brings to the Solana Blockchain.
Alchemy Pay’s new MTL licenses in Minnesota, Oklahoma, Oregon and Wyoming bring its total to eight US state licenses.
CryptoCurrency
Paramount posts another quarter of streaming profit, but linear TV and studio struggles pressure revenue
Paramount Global (PARA) reported third quarter earnings before the bell on Friday that showed further strength in streaming as it gets ready to combine with Skydance Media.
The media giant posted its second quarter of profit in a row for the segment, meaning profitability has improved by $1 billion over the past year.
But Q3 revenue missed expectations as the company booked continued declines in its linear TV business and pullbacks in its studios segment.
The financial update comes as the entertainment giant focuses on cleaning up its balance sheet ahead of its merger with Skydance Media, which is expected to close in the first half of 2025.
Shares moved more than 1% higher in premarket trading immediately following the results.
Revenue came in at $6.73 billion, missing Bloomberg consensus expectations of $6.95 billion and was a 6% drop compared to the $7.13 billion seen in Q3 2023
Paramount reported adjusted earnings per share of $0.49, versus $0.30 in the year-earlier period. Consensus expectations were for earnings to come in closer to $0.23 a share.
Streaming was a bright spot in the quarter. Paramount reported operating income for its direct-to-consumer (DTC) segment of $49 million, a $287 million improvement from the prior-year period.
Analysts had expected a loss for this segment of $161.5 million after the company reported operating income of $26 million in the second quarter, following a loss of $286 million in the first quarter.
For the nine months ending Sept. 30, the streaming division was still operating at a loss of $211 million. But the company has maintained previous guidance that it remains on track to reach domestic profitability for Paramount+ in 2025.
The streamer currently boasts 72 million total subscribers after gaining 3.5 million net additions in the third quarter. The gains are mostly due to the return of NFL and college football, in addition to original series like “Tulsa King” and post-theatrical releases like “A Quiet Place: Day One” and “If.”
Analysts had expected subscriber gains of 2.4 million, compared to the 2.7 million net additions the company reported a year ago.
Outside of subscriber strength, Paramount saw an 18% year-over-year jump in streaming advertising revenue.
On the flip side, linear advertising revenue once again declined though it did improve on a sequential basis. The segment dropped 2% year over year, compared to the 11% drop in Q2. Consensus estimates had pegged the segment revenue to fall 5%.
Linear profits also fell 19%, continuing their plunge amid greater cord-cutting trends that have slowed carriage-free growth and pressured distribution rates.
Spot Bitcoin ETF recorded a new all-time high of over $1.37 billion in net inflows a day after Trump’s victory.
Is SHIB price ready for a 90% price surge in early 2025? Technicals and chart fractals suggest that Shiba Inu is poised for a massive rally.
-
Science & Environment2 months agoHow to unsnarl a tangle of threads, according to physics
-
Technology1 month agoIs sharing your smartphone PIN part of a healthy relationship?
-
Science & Environment2 months agoHyperelastic gel is one of the stretchiest materials known to science
-
Science & Environment2 months ago‘Running of the bulls’ festival crowds move like charged particles
-
Technology2 months agoWould-be reality TV contestants ‘not looking real’
-
Science & Environment2 months agoX-rays reveal half-billion-year-old insect ancestor
-
Science & Environment2 months agoPhysicists have worked out how to melt any material
-
Sport1 month agoAaron Ramsdale: Southampton goalkeeper left Arsenal for more game time
-
MMA1 month ago‘Dirt decision’: Conor McGregor, pros react to Jose Aldo’s razor-thin loss at UFC 307
-
Money1 month agoWetherspoons issues update on closures – see the full list of five still at risk and 26 gone for good
-
News1 month ago‘Blacks for Trump’ and Pennsylvania progressives play for undecided voters
-
Science & Environment2 months agoMaxwell’s demon charges quantum batteries inside of a quantum computer
-
Science & Environment2 months agoSunlight-trapping device can generate temperatures over 1000°C
-
Football1 month agoRangers & Celtic ready for first SWPL derby showdown
-
News1 month agoWoman who died of cancer ‘was misdiagnosed on phone call with GP’
-
Technology1 month agoUkraine is using AI to manage the removal of Russian landmines
-
Business1 month ago
how UniCredit built its Commerzbank stake
-
Science & Environment2 months agoLaser helps turn an electron into a coil of mass and charge
-
Science & Environment2 months agoA new kind of experiment at the Large Hadron Collider could unravel quantum reality
-
Science & Environment2 months agoLiquid crystals could improve quantum communication devices
-
Science & Environment2 months agoWhy this is a golden age for life to thrive across the universe
-
Technology1 month agoGmail gets redesigned summary cards with more data & features
-
Technology1 month agoSamsung Passkeys will work with Samsung’s smart home devices
-
Sport1 month ago2024 ICC Women’s T20 World Cup: Pakistan beat Sri Lanka
-
Sport1 month agoBoxing: World champion Nick Ball set for Liverpool homecoming against Ronny Rios
-
Entertainment1 month agoBruce Springsteen endorses Harris, calls Trump “most dangerous candidate for president in my lifetime”
-
Technology1 month agoRussia is building ground-based kamikaze robots out of old hoverboards
-
Science & Environment2 months agoQuantum ‘supersolid’ matter stirred using magnets
-
Technology1 month agoEpic Games CEO Tim Sweeney renews blast at ‘gatekeeper’ platform owners
-
News1 month agoMassive blasts in Beirut after renewed Israeli air strikes
-
News1 month agoNavigating the News Void: Opportunities for Revitalization
-
Business1 month ago
Top shale boss says US ‘unusually vulnerable’ to Middle East oil shock
-
MMA1 month agoPereira vs. Rountree prediction: Champ chases legend status
-
Science & Environment2 months agoQuantum forces used to automatically assemble tiny device
-
MMA1 month agoDana White’s Contender Series 74 recap, analysis, winner grades
-
Technology1 month agoSingleStore’s BryteFlow acquisition targets data integration
-
Technology1 month agoMicrosoft just dropped Drasi, and it could change how we handle big data
-
MMA1 month ago‘Uncrowned queen’ Kayla Harrison tastes blood, wants UFC title run
-
Technology1 month agoMicrophone made of atom-thick graphene could be used in smartphones
-
Sport1 month agoWXV1: Canada 21-8 Ireland – Hosts make it two wins from two
-
Business1 month agoWater companies ‘failing to address customers’ concerns’
-
Technology1 month agoCheck, Remote, and Gusto discuss the future of work at Disrupt 2024
-
News1 month agoRwanda restricts funeral sizes following outbreak
-
News1 month agoCornell is about to deport a student over Palestine activism
-
Money1 month agoTiny clue on edge of £1 coin that makes it worth 2500 times its face value – do you have one lurking in your change?
-
Science & Environment2 months agoITER: Is the world’s biggest fusion experiment dead after new delay to 2035?
-
News2 months ago▶️ Hamas in the West Bank: Rising Support and Deadly Attacks You Might Not Know About
-
Technology2 months agoMeta has a major opportunity to win the AI hardware race
-
Technology2 months agoWhy Machines Learn: A clever primer makes sense of what makes AI possible
-
TV1 month agoসারাদেশে দিনব্যাপী বৃষ্টির পূর্বাভাস; সমুদ্রবন্দরে ৩ নম্বর সংকেত | Weather Today | Jamuna TV
-
MMA1 month agoPennington vs. Peña pick: Can ex-champ recapture title?
-
Technology1 month agoLG C4 OLED smart TVs hit record-low prices ahead of Prime Day
-
MMA1 month agoKayla Harrison gets involved in nasty war of words with Julianna Pena and Ketlen Vieira
-
Business1 month agoWhen to tip and when not to tip
-
Sport1 month agoShanghai Masters: Jannik Sinner and Carlos Alcaraz win openers
-
Sport1 month agoAmerica’s Cup: Great Britain qualify for first time since 1964
-
Travel1 month ago
World of Hyatt welcomes iconic lifestyle brand in latest partnership
-
Football1 month ago'Rangers outclassed and outplayed as Hearts stop rot'
-
News1 month agoHull KR 10-8 Warrington Wolves – Robins reach first Super League Grand Final
-
Science & Environment2 months agoA slight curve helps rocks make the biggest splash
-
Science & Environment2 months agoNuclear fusion experiment overcomes two key operating hurdles
-
Technology1 month agoUniversity examiners fail to spot ChatGPT answers in real-world test
-
MMA1 month agoHow to watch Salt Lake City title fights, lineup, odds, more
-
News1 month agoHarry vs Sun publisher: ‘Two obdurate but well-resourced armies’
-
Sport1 month agoPremiership Women’s Rugby: Exeter Chiefs boss unhappy with WXV clash
-
News1 month ago▶ Hamas Spent $1B on Tunnels Instead of Investing in a Future for Gaza’s People
-
TV1 month agoTV Patrol Express September 26, 2024
-
Business1 month ago
Italy seeks to raise more windfall taxes from companies
-
Sport1 month agoChina Open: Carlos Alcaraz recovers to beat Jannik Sinner in dramatic final
-
Football1 month agoWhy does Prince William support Aston Villa?
-
Sport1 month agoURC: Munster 23-0 Ospreys – hosts enjoy second win of season
-
Science & Environment2 months agoNerve fibres in the brain could generate quantum entanglement
-
Womens Workouts2 months ago3 Day Full Body Women’s Dumbbell Only Workout
-
Technology1 month agoMusk faces SEC questions over X takeover
-
Sport1 month agoSturm Graz: How Austrians ended Red Bull’s title dominance
-
Sport1 month agoCoco Gauff stages superb comeback to reach China Open final
-
Sport1 month agoFans say ‘Moyes is joking, right?’ after his bizarre interview about under-fire Man Utd manager Erik ten Hag goes viral
-
Politics1 month ago
‘The night of the living dead’: denial-fuelled Tory conference ends without direction | Conservative conference
-
Technology1 month agoNintendo’s latest hardware is not the Switch 2
-
Science & Environment2 months agoHow to wrap your mind around the real multiverse
-
Business1 month ago
Bank of England warns of ‘future stress’ from hedge fund bets against US Treasuries
-
Technology1 month agoQuoroom acquires Investory to scale up its capital-raising platform for startups
-
Football1 month agoFifa to investigate alleged rule breaches by Israel Football Association
-
MMA1 month ago‘I was fighting on automatic pilot’ at UFC 306
-
Sport1 month agoHow India became a Test cricket powerhouse
-
Sport1 month agoNew Zealand v England in WXV: Black Ferns not ‘invincible’ before game
-
Technology1 month agoJ.B. Hunt and UP.Labs launch venture lab to build logistics startups
-
News1 month agoGerman Car Company Declares Bankruptcy – 200 Employees Lose Their Jobs
-
Business1 month ago
The search for Japan’s ‘lost’ art
-
Sport1 month agoWales fall to second loss of WXV against Italy
-
Technology1 month agoSamsung Galaxy Tab S10 won’t get monthly security updates
-
Science & Environment2 months agoTime travel sci-fi novel is a rip-roaringly good thought experiment
-
News2 months ago▶️ Media Bias: How They Spin Attack on Hezbollah and Ignore the Reality
-
Science & Environment2 months agoA tale of two mysteries: ghostly neutrinos and the proton decay puzzle
-
Business1 month ago
DoJ accuses Donald Trump of ‘private criminal effort’ to overturn 2020 election
-
Technology1 month agoAmazon’s Ring just doubled the price of its alarm monitoring service for grandfathered customers
-
Business1 month ago
Sterling slides after Bailey says BoE could be ‘a bit more aggressive’ on rates
-
Business1 month ago
‘Let’s be more normal’ — and rival Tory strategies
-
Technology1 month agoThe best shows on Max (formerly HBO Max) right now
-
News1 month agoTrump returns to Pennsylvania for rally at site of assassination attempt
You must be logged in to post a comment Login