NEW YORK (AP) — NEW YORK (AP) — Paramount Global-B (PARA) on Wednesday reported fourth-quarter earnings of $514 million.
The New York-based company said it had profit of 77 cents per share. Earnings, adjusted to account for discontinued operations, came to 4 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The company posted revenue of $7.64 billion in the period, which did not meet Street forecasts. Seven analysts surveyed by Zacks expected $7.78 billion.
For the year, the company reported a loss of $608 million, or $1.02 per share. Revenue was reported as $29.65 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PARA at https://www.zacks.com/ap/PARA