Paramount Global's Upcoming Earnings: A Detailed Preview

• Paramount Global (NASDAQ:PARA) is set to announce its Q3 2024 earnings with an expected EPS of $0.24, despite a 20% year-over-year decline.
• Revenue projections stand at approximately $6.95 billion, indicating a slight 3% decrease from the previous year.
• The company's financial health shows a negative P/E ratio of -1.37 but maintains a moderate debt-to-equity ratio of 0.89 and a current ratio of 1.30.

Paramount Global, listed as NASDAQ:PARA, is a major player in the media and entertainment industry. The company is known for its diverse portfolio, which includes television, film, and streaming services. As it gears up to release its third-quarter 2024 earnings, analysts are keenly observing its financial performance, especially given the current market conditions.

On November 8, 2024, Paramount Global is expected to announce its quarterly earnings, with Wall Street estimating an earnings per share (EPS) of $0.24. This figure aligns with the Zacks Consensus Estimate, which has seen a 33.34% increase over the past 30 days. However, it's important to note that this EPS represents a 20% decline compared to the same quarter last year, highlighting some challenges the company faces.

Revenue projections for Paramount Global are around $6.95 billion, slightly higher than the Zacks estimate of $6.92 billion. This marks a 3% decrease from the previous year's quarter. Despite these anticipated declines, Paramount Global has a track record of surpassing the Zacks Consensus Estimate in the last four quarters, with an average surprise of 205.77%, as highlighted by Zacks.

The company's performance in the third quarter is likely to be influenced by its expanding customer base and the growth of its streaming services. These factors are crucial as inflation persists, impacting consumer spending. Paramount Global's ability to navigate these challenges will be closely watched by investors and analysts alike.

Financial metrics provide further insight into Paramount Global's current standing. The company has a negative price-to-earnings (P/E) ratio of -1.37, indicating ongoing losses. However, its price-to-sales ratio of 0.28 suggests that investors are paying 28 cents for every dollar of sales, which may be attractive to some investors. The debt-to-equity ratio of 0.89 indicates a moderate level of debt, while a current ratio of 1.30 suggests reasonable liquidity to cover short-term liabilities.