派拉蒙Skydance二季度收入略超预期并上调EBITDA指引，但WBD并购仍受反垄断诉讼拖延

Paramount Skydance (PSKY) earnings Q2 2026
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Paramount Skydance raises full-year profit guidance, remains 'confident' about WBD merger
Published Tue, Aug 4 2026
4:02 PM EDT
Updated Tue, Aug 4 2026
5:15 PM EDT
Lillian Rizzo
@Lilliannnn
WATCH LIVE
Key Points
Paramount Skydance raised its full-year 2026 outlook for adjusted EBITDA when it reported second-quarter earnings on Tuesday.
The report marks nearly a full year since the storied Hollywood company merged with David Ellison's Skydance.
The company said it continues to prepare for its proposed merger with Warner Bros. Discovery, even as it has been held up by an antitrust challenge.
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An aerial view of the Paramount logo displayed on the water tower at Paramount Studios on Dec. 8, 2025, in Los Angeles, California.
Mario Tama | Getty Images
Paramount Skydance
raised its full-year guidance on Tuesday and reported second-quarter results that showcased the continued strengths of streaming and weaknesses of linear TV.
While Paramount beat Wall Street expectations for revenue and reported gains in its streaming unit, led by its Paramount+ streaming service, its portfolio of cable TV networks continued to weigh on the overall company.
Still, Paramount noted that cost cutting and its "creative execution" for the traditional TV business helped to improve margins and profit in the quarter.
Here's how Paramount Skydance performed in the
period ended June 30
compared with Wall Street estimates compiled by LSEG:
Earnings per share:
4 cents
Revenue:
$6.91 billion vs. $6.88 billion expected
Paramount reported net earnings attributable to the company of $41 million, or 4 cents per share, versus $57 million, or 8 cents per share, in the comparable year-earlier period.
The company's reported EPS for the second quarter was not comparable to Wall Street estimates of 15 cents per share adjusted, according to LSEG.
Paramount reported $6.91 billion in total revenue, up slightly year over year. Revenue for the direct-to-consumer streaming segment — which consists of Paramount+, BET+ and the free, ad-supported Pluto TV — was up 9% to $2.47 billion, while film studios revenue increased 16% to $1.31 billion. TV media revenue declined 9% to $3.13 billion.
The company said the second quarter was its "best quarter for retention in Paramount+'s history," due to series like the "Yellowstone" spinoff "Dutton Ranch," as well as
live sports like the UFC
and offering of the FIFA World Cup in parts of Latin America.
Paramount+ added 2 million subscribers during the quarter, bringing its total to 81.6 million global customers.
The company said Tuesday it was raising its full-year 2026 guidance for adjusted earnings before interest, taxes, depreciation and amortization to a range of $3.8 billion to $3.9 billion, due to savings from last year's merger of Paramount and Skydance. The company has said
it plans to save
$3 billion from the consolidation.
Paramount still expects total revenue in 2026 of $30 billion, representing 4% growth year over year. Direct-to-consumer revenue from both streaming subscriptions and advertising is expected to accelerate for the year.
For the third quarter, Paramount expects total revenue of between $6.95 billion and $7.15 billion and for Paramount+ subscriber additions to be "flattish" quarter over quarter.
WBD merger trajectory
David Ellison, CEO of Paramount Skydance, speaks during the Paramount Pictures presentation at CinemaCon, the official convention of Cinema United, in Las Vegas, Nevada, April 16, 2026.
Caroline Brehman | Reuters
Tuesday's earnings report comes nearly one year since the completion of Skydance's merger with Paramount, putting the storied Hollywood company under the leadership of CEO David Ellison.
The company highlighted "early benefits" to unifying the tech behind Paramount+ and Pluto TV. It also noted that it increased Paramount's film slate from eight to 15 films.
Paramount has more recently been in pursuit of
Warner Bros. Discovery
, a combination that has been held up by an antitrust challenge brought by U.S. states.
However, Ellison reiterated the company's confidence in that merger Tuesday.
"As we've executed against our strategy over the past year, we've also prepared to close the transaction, and we remain confident it will be completed, creating a stronger, more competitive, creative-first media company that builds on the foundation we've established — one that benefits consumers, theater exhibitors and creatives," he said in a shareholder letter.
Last month, Paramount
agreed to delay
the closing of the proposed acquisition to as late as June 2027 due to
the lawsuit
brought forth by a group of state attorneys general.
Initially Paramount said it
planned
to close the deal by the end of September. It has received
approval from
the antitrust division of the U.S. Department of Justice, as well as from several global jurisdictions, including
European regulators
.
The U.S. states' lawsuit will go to trial in March 2027, according to a court filing on Tuesday.
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