Paramount Global (PARA) announced on Friday a decrease in third-quarter earnings, attributed primarily to reduced revenue and increased restructuring and transaction-related expenses.
The company reported earnings of $1 million, translating to $0.00 per share, a notable drop from last year's $295 million or $0.43 per share.
On average, analysts surveyed by Thomson Reuters had anticipated earnings of $0.24 per share for this period. It is important to note that analysts' estimates typically exclude special items.
When adjusted for continuing operations, earnings for the quarter were $327 million, or $0.49 per share.
The reported revenue for the period was $6.7 billion, a decrease from $7.1 billion in the previous year.
Currently, Paramount's shares are trading at $10.97, a decline of 4.90 percent on the Nasdaq.
