Paramount reported $7.62 billion in revenue for the second quarter, beating Wall Street analysts’ estimates of $7.43 billion. It also had $0.10 in adjusted earnings per share versus the expected $0.00.

Aside from solid Q2 numbers, the investors were encouraged by the sale of publisher Simon & Schuster. After a deal to sell Simon & Schuster to Penguin Random House fell apart back in 2022, Paramount circled back and struck an agreement with KKR. The sale is worth $1.62 billion in cash.

However, it wasn’t all good for Paramount. The company’s linear ad revenue plunged 10% while having a $250 million operating loss compared to $819 million in profit in the same period of last year. It also added just 700,000 subscribers to its streaming service Paramount+ compared to the 1.14 million expected by the analysts and 3.7 million added in the second quarter of 2022.

The shares of Paramount closed at $16.09 per share on Monday before jumping to $17.33 early in after-hours trading. They later settled at around $16.47 per share.

The post Paramount Stock Jumps Amid Better-Than-Expected Q2 Earnings appeared first on theprimarymarket.com.

In a note sent to clients on Tuesday, Feldman and his team explained that Warner Bros. Discovery is still undervalued. This is because the price doesn’t reflect the strength of the company’s streaming service, which should be one of the strongest on the market when fully integrated.

“We believe early traction with the company’s planned all-inclusive streaming service could be a positive catalyst for the stock,” said Feldman.

Goldman has put a price target of $22 on Warner Bros. Discovery stock. The company’s shares closed at $14.43 on Tuesday before trading as high as $15.27 on the following day.

As part of the note, Goldman’s analysts have downgraded Paramount Global stock from Buy to Sell. There is a concern the media and entertainment giant won’t be able to “follow through” on its strategy to make Paramount+ competitive in the streaming service market. The Paramount Global Class B shares are already down almost five percent in the past five days, closing at $24.53 per share on Wednesday.

The post Goldman Sachs Recommends Buying Warner Bros. Discovery, Downgrades Paramount appeared first on theprimarymarket.com.

Paramount reported $7.62 billion in revenue for the second quarter, beating Wall Street analysts’ estimates of $7.43 billion. It also had $0.10 in adjusted earnings per share versus the expected $0.00.

Aside from solid Q2 numbers, the investors were encouraged by the sale of publisher Simon & Schuster. After a deal to sell Simon & Schuster to Penguin Random House fell apart back in 2022, Paramount circled back and struck an agreement with KKR. The sale is worth $1.62 billion in cash.

However, it wasn’t all good for Paramount. The company’s linear ad revenue plunged 10% while having a $250 million operating loss compared to $819 million in profit in the same period of last year. It also added just 700,000 subscribers to its streaming service Paramount+ compared to the 1.14 million expected by the analysts and 3.7 million added in the second quarter of 2022.

The shares of Paramount closed at $16.09 per share on Monday before jumping to $17.33 early in after-hours trading. They later settled at around $16.47 per share.

The post Paramount Stock Jumps Amid Better-Than-Expected Q2 Earnings appeared first on theprimarymarket.com.

In a note sent to clients on Tuesday, Feldman and his team explained that Warner Bros. Discovery is still undervalued. This is because the price doesn’t reflect the strength of the company’s streaming service, which should be one of the strongest on the market when fully integrated.

“We believe early traction with the company’s planned all-inclusive streaming service could be a positive catalyst for the stock,” said Feldman.

Goldman has put a price target of $22 on Warner Bros. Discovery stock. The company’s shares closed at $14.43 on Tuesday before trading as high as $15.27 on the following day.

As part of the note, Goldman’s analysts have downgraded Paramount Global stock from Buy to Sell. There is a concern the media and entertainment giant won’t be able to “follow through” on its strategy to make Paramount+ competitive in the streaming service market. The Paramount Global Class B shares are already down almost five percent in the past five days, closing at $24.53 per share on Wednesday.

The post Goldman Sachs Recommends Buying Warner Bros. Discovery, Downgrades Paramount appeared first on theprimarymarket.com.