Here Is What To Expect

Multinational media and entertainment corporation Paramount (NASDAQ:PARA) will be reporting results this Monday after the bell. Here’s what you need to know.

Paramount met analysts’ revenue expectations last quarter, reporting revenues of $6.85 billion, flat year on year. It was a strong quarter for the company, with a solid beat of analysts’ adjusted operating income estimates and a decent beat of analysts’ EBITDA estimates.

Is Paramount a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Paramount’s revenue to grow 5.5% year on year to $7.10 billion, a reversal from the 5.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.40 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Paramount has missed Wall Street’s revenue estimates six times over the last two years.

Looking at Paramount’s peers in the broadcasting segment, some have already reported their Q3 results, giving us a hint as to what we can expect. FOX delivered year-on-year revenue growth of 4.9%, beating analysts’ expectations by 4.6%, and AMC Networks reported a revenue decline of 6.3%, topping estimates by 2.7%. FOX traded up 6.3% following the results.

Read our full analysis of FOX’s results here and AMC Networks’s results here.

Investors in the broadcasting segment have had steady hands going into earnings, with share prices flat over the last month. Paramount is down 11% during the same time and is heading into earnings with an average analyst price target of $14.17 (compared to the current share price of $15.13).

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