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Paramount Skydance raises 2026 adjusted EBITDA outlook after Q2 streaming gains

Second-quarter revenue topped expectations as Paramount+ added 2 million subscribers, helping offset linear TV weakness, while the company kept preparing for its proposed Warner Bros. Discovery deal despite a multistate antitrust challenge.

Summary

Paramount Skydance raised its 2026 adjusted EBITDA outlook after second-quarter results showed streaming and film gains partly offsetting continued declines in television. The owner of CBS, Comedy Central, Nickelodeon and Paramount studio reported $6.91 billion in quarterly revenue, with direct-to-consumer revenue up 9% to $2.47 billion and film studios revenue up 16% to $1.31 billion, while TV media revenue fell 9% to $3.13 billion. Paramount+ added 2 million subscribers to reach 81.6 million globally, and the company said cost controls and merger-related savings supported its improved profit outlook even as linear TV remained under pressure.

Terms & Concepts
  • Adjusted EBITDA: A profitability measure that excludes interest, taxes, depreciation, amortization and certain other items, often used to track operating performance.
  • Direct-to-consumer: A media distribution model in which companies deliver content directly to viewers through services such as streaming platforms rather than through traditional cable or satellite bundles.
  • Antitrust challenge: A legal action alleging a merger or business conduct could reduce competition, potentially delaying or blocking a transaction.