Paramount Global’s quarterly revenue disappointed Wall Street on Wednesday, even after posting a profit boosted by streaming gains that overshadowed a sluggish advertising market.
The media conglomerate’s shares surged nearly two per cent after the bell, reflecting investors’ optimism amid the evolving landscape of the entertainment industry.
Streaming services have steadily gained dominance over traditional television, compounded by the aftermath of Hollywood’s strikes last year and a subdued advertising market.
