Paramount Global (NASDAQ:PARAA) Issues Earnings Results, Misses Estimates By $0.27 EPS

Paramount Global (NASDAQ:PARAA) issued its quarterly earnings data on Wednesday. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.27), Zacks reports. The firm had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%.

Paramount Global Stock Performance

PARAA stock traded down $0.01 during trading on Thursday, hitting $22.43. The company had a trading volume of 1,370 shares, compared to its average volume of 25,480. Paramount Global has a 1-year low of $16.59 and a 1-year high of $26.34. The firm has a 50-day moving average price of $22.56 and a 200-day moving average price of $22.41. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The firm has a market cap of $14.96 billion, a PE ratio of -2.73 and a beta of 1.62.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.89%. Paramount Global’s payout ratio is -2.43%.

Paramount Global Company Profile

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.