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Paramount Global (PARA) to Report Q2 Earnings: What's in Store?
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Paramount Global (PARA - Free Report) is set to report second-quarter 2022 on Aug 4.
For the quarter, the Zacks Consensus Estimate for earnings has moved northward by 13% to 61 cents per share in the past 30 days. The figure indicates a 37.1% plunge from the year-ago quarter’s reported figure.
The consensus mark for revenues is pegged at $7.36 billion, calling for a 12.2% increase from the year-ago quarter’s reported figure.
The company’s earnings beat the Zacks Consensus Estimate in two of the last four quarters, missed once and matched the same on the other occasion. Paramount Global has a trailing four-quarter negative earnings surprise of 0.72%, on average.
Let’s see how things have shaped up for this announcement.
Paramount Global’s second-quarter performance is expected to have benefited from a solid cable network portfolio. The growing traction of Showtime, BET, Comedy Central and Nickelodeon is expected to have boosted the top line.
An expanding content catalog of live sporting events and a solid portfolio of streaming services, including CBS All Access, Showtime OTT, Pluto TV, Noggin and BET+, are expected to have boosted viewership and ad revenues in the second quarter.
Global streaming subscribers rose to more than 62 million, adding 6.3 million total subscribers in the first quarter. Subscriber additions were driven by Paramount+, which added 6.8 million subscribers in the first quarter, bringing Paramount+ total subscribers to almost 40 million.
The launch of Paramount+ in the UK and Ireland in the to-be-reported quarter is expected to have aided global subscriber growth.
Pluto TV gained immense popularity with more than 250 live, linear channels and thousands of hours of on-demand content. Pluto TV partners with more than 175 content providers, including media houses, film and TV studios that help it produce various content.
In the first quarter of 2022, Pluto TV’s global monthly active users (MAUs) increased to nearly 68 million. Pluto TV gained broad distribution on T-Mobile through T-Mobile Tuesdays, giving customers exclusive access to new content and original series. The trend is likely to have continued in the to-be-reported quarter.
In the second quarter, Pluto TV expanded to the Nordics, launching in Sweden, Denmark and Norway. The service unveiled a vast programming lineup that features more than 70 unique and locally curated channels now live in each country. This is expected to have boosted the streamer’s global MAUs in the to-be-reported quarter.
Advertisers, however, continue to face supply-chain disruptions and labor shortages, and many others are contending with rising costs amid record inflation, which have led to cutbacks in spending on advertising. This is expected to have hampered ad revenue growth in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Paramount Global has an Earnings ESP of +11.85% and carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
MRC Global (MRC - Free Report) , Alcon (ALC - Free Report) and Grocery Outlet (GO - Free Report) are some other stocks, which also have the right combination of elements to post an earnings beat in their upcoming releases.
MRC Global is slated to report second-quarter 2022 results on Aug 8. The company has an Earnings ESP of +30.27% and a Zacks Rank #1 at present. MRC's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 140.8%. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MRC’s quarterly earnings is pegged at 25 cents per share, suggesting a whopping year-over-year surge of 212.5%. Its quarterly revenues are estimated to increase 23.4% year over year to $846.5 million.
Alcon has an Earnings ESP of +5.07% and a Zacks Rank #1. The company is scheduled to report second-quarter 2022 results on Aug 16. ALC's earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 21.4%.
For the second quarter, the Zacks Consensus Estimate for Alcon’s earnings is pegged at 55 cents per share, indicating a 1.8% year-over-year decline. However, revenues are expected to grow 4.4% to $2.19 billion.
Grocery Outlet, has an Earnings ESP of +5.62% and sports a Zacks Rank #1. The company is slated to report its second-quarter 2022 results on Aug 9. Its earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 4.8%.
The Zacks Consensus Estimate for GO’s second-quarter earnings stands at 24 cents per share, suggesting a year-over-year increase of 4.4%. GO anticipates revenues of $859.6 million, which suggests growth of 10.8% from the year-ago quarter.
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Paramount Global (PARA) to Report Q2 Earnings: What's in Store?
Paramount Global (PARA - Free Report) is set to report second-quarter 2022 on Aug 4.
For the quarter, the Zacks Consensus Estimate for earnings has moved northward by 13% to 61 cents per share in the past 30 days. The figure indicates a 37.1% plunge from the year-ago quarter’s reported figure.
The consensus mark for revenues is pegged at $7.36 billion, calling for a 12.2% increase from the year-ago quarter’s reported figure.
The company’s earnings beat the Zacks Consensus Estimate in two of the last four quarters, missed once and matched the same on the other occasion. Paramount Global has a trailing four-quarter negative earnings surprise of 0.72%, on average.
Let’s see how things have shaped up for this announcement.
Paramount Global Price and EPS Surprise
Paramount Global price-eps-surprise | Paramount Global Quote
Factors to Consider
Paramount Global’s second-quarter performance is expected to have benefited from a solid cable network portfolio. The growing traction of Showtime, BET, Comedy Central and Nickelodeon is expected to have boosted the top line.
An expanding content catalog of live sporting events and a solid portfolio of streaming services, including CBS All Access, Showtime OTT, Pluto TV, Noggin and BET+, are expected to have boosted viewership and ad revenues in the second quarter.
Global streaming subscribers rose to more than 62 million, adding 6.3 million total subscribers in the first quarter. Subscriber additions were driven by Paramount+, which added 6.8 million subscribers in the first quarter, bringing Paramount+ total subscribers to almost 40 million.
The launch of Paramount+ in the UK and Ireland in the to-be-reported quarter is expected to have aided global subscriber growth.
Pluto TV gained immense popularity with more than 250 live, linear channels and thousands of hours of on-demand content. Pluto TV partners with more than 175 content providers, including media houses, film and TV studios that help it produce various content.
In the first quarter of 2022, Pluto TV’s global monthly active users (MAUs) increased to nearly 68 million. Pluto TV gained broad distribution on T-Mobile through T-Mobile Tuesdays, giving customers exclusive access to new content and original series. The trend is likely to have continued in the to-be-reported quarter.
In the second quarter, Pluto TV expanded to the Nordics, launching in Sweden, Denmark and Norway. The service unveiled a vast programming lineup that features more than 70 unique and locally curated channels now live in each country. This is expected to have boosted the streamer’s global MAUs in the to-be-reported quarter.
Advertisers, however, continue to face supply-chain disruptions and labor shortages, and many others are contending with rising costs amid record inflation, which have led to cutbacks in spending on advertising. This is expected to have hampered ad revenue growth in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Paramount Global has an Earnings ESP of +11.85% and carries a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
MRC Global (MRC - Free Report) , Alcon (ALC - Free Report) and Grocery Outlet (GO - Free Report) are some other stocks, which also have the right combination of elements to post an earnings beat in their upcoming releases.
MRC Global is slated to report second-quarter 2022 results on Aug 8. The company has an Earnings ESP of +30.27% and a Zacks Rank #1 at present. MRC's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 140.8%. You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MRC’s quarterly earnings is pegged at 25 cents per share, suggesting a whopping year-over-year surge of 212.5%. Its quarterly revenues are estimated to increase 23.4% year over year to $846.5 million.
Alcon has an Earnings ESP of +5.07% and a Zacks Rank #1. The company is scheduled to report second-quarter 2022 results on Aug 16. ALC's earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 21.4%.
For the second quarter, the Zacks Consensus Estimate for Alcon’s earnings is pegged at 55 cents per share, indicating a 1.8% year-over-year decline. However, revenues are expected to grow 4.4% to $2.19 billion.
Grocery Outlet, has an Earnings ESP of +5.62% and sports a Zacks Rank #1. The company is slated to report its second-quarter 2022 results on Aug 9. Its earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 4.8%.
The Zacks Consensus Estimate for GO’s second-quarter earnings stands at 24 cents per share, suggesting a year-over-year increase of 4.4%. GO anticipates revenues of $859.6 million, which suggests growth of 10.8% from the year-ago quarter.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.