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Paramount Skydance Corporation (NASDAQ:PSKY) shares are trading higher Tuesday after the company reported third-quarter financial results and issued fourth-quarter sales guidance above estimates.
What To Know: The company reported a loss of 12 cents per share, missing the consensus estimate for positive earnings of 34 cents per share. In addition, Paramount Skydance reported sales of $6.70 billion, missing the consensus estimate of $6.97 billion.
CEO David Ellison said the company's third-quarter results reflect progress in integrating operations following the merger of Paramount Global and Skydance Media. Ellison highlighted strong performance in the company's film and TV segments and reaffirmed Paramount Skydance's focus on expanding its direct-to-consumer business and live sports offerings.
The company said its direct-to-consumer business remains its top priority, while live sports continue to drive engagement and subscriber retention across its streaming platforms.
Q4 Outlook: The company sees fourth-quarter sales of between $8.10 billion and $8.30 billion, versus the consensus estimate of $8.00 billion. The strong fourth-quarter guidance appears to be driving shares higher on Tuesday.
FY26 Outlook: Paramount Skydance sees full-year sales of $30.00 billion, versus the consensus estimate of $30.33 billion.
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PSKY Price Action: At the time of writing, Paramount Skydance shares are trading 10.85% higher at $16.94, according to data from Benzinga Pro.
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Posted In: PSKY
