Paramount Global reported its second-quarter 2025 earnings, meeting Wall Street's revenue expectations with sales flat year-on-year at $6.85 billion. The company's non-GAAP profit of $0.46 per share significantly exceeded analysts' consensus estimates by 24.6%.
Management attributed the improved profitability to its streaming-first strategy, highlighting Paramount+ as a primary engine of growth. Direct-to-Consumer (D2C) revenue growth outpaced linear declines, demonstrating the success of original content and disciplined cost control.
The D2C segment generated Adjusted OIBDA of $157 million in Q2 2025, a remarkable six-fold improvement year-over-year. Paramount+ ended the quarter with 77.7 million subscribers, a 14% increase year-over-year, with ARPU growth accelerating to 9%.
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