Paramount Results Beat as It Moves Closer to Warner Deal

Paramount Skydance Corp. reported first-quarter sales and earnings that beat analysts’ expectations as the entertainment giant moves closer to acquiring its rival Warner Bros. Discovery Inc., whose shareholders voted to approve the deal last month.

The parent company of CBS and MTV posted adjusted earnings before interest, taxes, depreciation and amortization of $1.16 billion, exceeding analysts’ estimates of $891 million and representing a 59% increase from last year. Revenue came in at $7.3 billion, in line with Wall Street projections.