We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
For the quarter, the Zacks Consensus Estimate for earnings is pegged at 9 cents per share, moving south by 10% over the past 30 days. The figure indicates a 76.9% plunge from the year-ago quarter’s reported figure.
The consensus mark for revenues is pegged at $7.17 billion, indicating a 3.66% increase from the year-ago quarter’s reported figure.
The company’s earnings beat the Zacks Consensus Estimate once in the last four quarters and missed the same thrice. PARA has a trailing four-quarter earnings surprise of 252.54%, on average.
Let’s see how things have shaped up for this announcement.
Paramount’s third-quarter viewership and ad revenues are expected to have benefited from 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+.
The growing traction of Showtime, BET, Comedy Central and Nickelodeon is expected to have boosted the top line.
Paramount continues to demonstrate the strength of its content engine, driving momentum across streaming, television and theatrical. This resulted in Paramount+ reaching significant milestone with 61 million subscribers in the second quarter. This trend is expected to have continued in the to-be-reported quarter. The Zacks Consensus Estimate for global Paramount subscribers is pegged at 63 million.
In the second quarter, PARA inked a partnership with VIDAA to bring Paramount+ to smart TVs powered by VIDAA in Canada and Latin America, including Brazil, which is likely to have boosted Paramount+ subscriber growth in the to-be-reported quarter.
Moreover, subscriber growth is expected to have been boosted by the launch of Paramount+ with SHOWTIME plan, a cornerstone integration that makes Paramount+ the new streaming home for SHOWTIME. The Paramount+ Essential Plan (without SHOWTIME) is available for $5.99 per month.
Pluto TV has gained immense popularity with more than 250 live events, linear channels and thousands of hours of on-demand content. Pluto TV partners with more than 175 content providers, including media houses and film and TV studios that help it produce various content.
In the second quarter, Pluto TV’s total global viewing hours grew 35% year over year. The trend is likely to have continued 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. PARA has been facing a slump in its ad revenues, which declined 5.9% in second-quarter 2023.
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. But that’s not the case here.
Paramount Global has an Earnings ESP of +7.29% but carries a Zacks Rank #5 (Strong Sell) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Per our model, NVIDIA Corporation (NVDA - Free Report) , Palantir Technologies (PLTR - Free Report) and Synaptics (SYNA - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
NVIDIA sports a Zacks Rank #1 and has an Earnings ESP of +6.93% at present. The company is scheduled to report third-quarter fiscal 2023 results on Nov 21. Its earnings surpassed the Zacks Consensus Estimate thrice in the trailing four quarters and missed the same on one occasion, the average surprise being 9.8%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NVIDIA’s third-quarter earnings is pegged at $3.34 per share, indicating a year-over-year increase of 475.9%. The consensus mark for revenues is pinned at $16.12 billion, suggesting a year-over-year surge of 171.7%.
Palantir carries a Zacks Rank #2 and has an Earnings ESP of +4.35% at present. The company is scheduled to report third-quarter 2023 results on Nov 2. Its earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing on one occasion, with the average surprise being 2.1%.
The Zacks Consensus Estimate for Palantir’s third-quarter earnings is pegged at 6 cents per share, indicating a year-over-year improvement of 500%. It is estimated to report revenues of $555 million, which suggests an increase of approximately 16.1% from the year-ago quarter.
Synaptics is slated to report first-quarter fiscal 2024 results on Nov 9. The company has a Zacks Rank #2 and an Earnings ESP of +3.54% at present. Its earnings beat the Zacks Consensus Estimate thrice in the trailing four quarters while missing on one occasion, the average surprise being 3.6%.
The Zacks Consensus Estimate for first-quarter earnings is pegged at 38 cents per share, suggesting a decrease of 89.2% from the year-ago quarter’s earnings of $3.52. Synaptics’ quarterly revenues are estimated to decline 48.2% year over year to $232 million.
Image: Bigstock
Paramount Global (PARA) to Post Q3 Earnings: What's in Store?
Paramount Global (PARA - Free Report) is set to report third-quarter 2023 earnings on Nov 2.
For the quarter, the Zacks Consensus Estimate for earnings is pegged at 9 cents per share, moving south by 10% over the past 30 days. The figure indicates a 76.9% plunge from the year-ago quarter’s reported figure.
The consensus mark for revenues is pegged at $7.17 billion, indicating a 3.66% increase from the year-ago quarter’s reported figure.
The company’s earnings beat the Zacks Consensus Estimate once in the last four quarters and missed the same thrice. PARA has a trailing four-quarter earnings surprise of 252.54%, 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’s third-quarter viewership and ad revenues are expected to have benefited from 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+.
The growing traction of Showtime, BET, Comedy Central and Nickelodeon is expected to have boosted the top line.
Paramount continues to demonstrate the strength of its content engine, driving momentum across streaming, television and theatrical. This resulted in Paramount+ reaching significant milestone with 61 million subscribers in the second quarter. This trend is expected to have continued in the to-be-reported quarter. The Zacks Consensus Estimate for global Paramount subscribers is pegged at 63 million.
In the second quarter, PARA inked a partnership with VIDAA to bring Paramount+ to smart TVs powered by VIDAA in Canada and Latin America, including Brazil, which is likely to have boosted Paramount+ subscriber growth in the to-be-reported quarter.
Moreover, subscriber growth is expected to have been boosted by the launch of Paramount+ with SHOWTIME plan, a cornerstone integration that makes Paramount+ the new streaming home for SHOWTIME. The Paramount+ Essential Plan (without SHOWTIME) is available for $5.99 per month.
Pluto TV has gained immense popularity with more than 250 live events, linear channels and thousands of hours of on-demand content. Pluto TV partners with more than 175 content providers, including media houses and film and TV studios that help it produce various content.
In the second quarter, Pluto TV’s total global viewing hours grew 35% year over year. The trend is likely to have continued 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. PARA has been facing a slump in its ad revenues, which declined 5.9% in second-quarter 2023.
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. But that’s not the case here.
Paramount Global has an Earnings ESP of +7.29% but carries a Zacks Rank #5 (Strong Sell) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Per our model, NVIDIA Corporation (NVDA - Free Report) , Palantir Technologies (PLTR - Free Report) and Synaptics (SYNA - Free Report) have the right combination of elements to post an earnings beat in their upcoming releases.
NVIDIA sports a Zacks Rank #1 and has an Earnings ESP of +6.93% at present. The company is scheduled to report third-quarter fiscal 2023 results on Nov 21. Its earnings surpassed the Zacks Consensus Estimate thrice in the trailing four quarters and missed the same on one occasion, the average surprise being 9.8%. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for NVIDIA’s third-quarter earnings is pegged at $3.34 per share, indicating a year-over-year increase of 475.9%. The consensus mark for revenues is pinned at $16.12 billion, suggesting a year-over-year surge of 171.7%.
Palantir carries a Zacks Rank #2 and has an Earnings ESP of +4.35% at present. The company is scheduled to report third-quarter 2023 results on Nov 2. Its earnings beat the Zacks Consensus Estimate thrice in the preceding four quarters while missing on one occasion, with the average surprise being 2.1%.
The Zacks Consensus Estimate for Palantir’s third-quarter earnings is pegged at 6 cents per share, indicating a year-over-year improvement of 500%. It is estimated to report revenues of $555 million, which suggests an increase of approximately 16.1% from the year-ago quarter.
Synaptics is slated to report first-quarter fiscal 2024 results on Nov 9. The company has a Zacks Rank #2 and an Earnings ESP of +3.54% at present. Its earnings beat the Zacks Consensus Estimate thrice in the trailing four quarters while missing on one occasion, the average surprise being 3.6%.
The Zacks Consensus Estimate for first-quarter earnings is pegged at 38 cents per share, suggesting a decrease of 89.2% from the year-ago quarter’s earnings of $3.52. Synaptics’ quarterly revenues are estimated to decline 48.2% year over year to $232 million.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.