Paramount Global, facing increased risk of a possible credit downgrade and persistent chatter about being sold, will provide a financial update to Wall Street on Wednesday after the bell.
Like its competitors, the media conglomerate is struggling to scale and make its streaming business profitable as it looks to offset a declining linear television business. But its financial picture has become more strained after being placed on a negative credit watch by the ratings agency S&P Global last week.
Analysts surveyed by Zacks Investment Research expect Paramount to report a fourth-quarter 2023 earnings loss of five cents per share on revenue of $7.78
Leave a Reply