Financial Data and Key Metrics Changes - The company reported total revenue guidance of $30 billion for 2026, driven by strong growth in direct-to-consumer (D2C) revenue and global profitability, with adjusted EBITDA expected to be $3.5 billion [7] - The run rate efficiency target has been increased from $2 billion to at least $3 billion [7] Business Line Data and Key Metrics Changes - The D2C segment achieved a total of 79 million subscribers, adding 1.4 million new subscribers in Q3, with revenue growth of 24% [9][14] - The company plans to grow theatrical output to at least 15 movies per year starting in 2026, indicating a significant increase in film production [8][24] Market Data and Key Metrics Changes - Paramount+ has achieved the largest U.S. subscription growth among major streamers, excluding bundles, and ranks as one of the top three preferred content sources among streaming services [9] - The company is focusing on international markets, particularly leveraging Pluto as a low ARPU asset to scale DTC business [18] Company Strategy and Development Direction - The company aims to transform Paramount into a global home for world-class storytelling, focusing on scaling its D2C business, investing in growth areas, and driving enterprise-wide efficiency [4][5] - Key priorities include investing in creative storytelling, scaling the D2C business globally, and enhancing operational efficiency to generate long-term free cash flow [5][6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to achieve its strategic goals and emphasized the importance of high-quality storytelling and technology as core competencies [10][49] - The management highlighted the need for significant investments in content and technology to drive subscriber growth and engagement [16][39] Other Important Information - The company is pursuing high-impact partnerships and expanding its creative talent roster, including collaborations with notable creators and franchises [8][9] - The integration of technology across platforms is a priority, with plans to unify multiple streaming services into one platform to enhance user experience and operational efficiency [36][37] Q&A Session Summary Question: Confidence in Paramount+ gaining global scale and content spend - Management highlighted a strong quarter for the D2C business, with a focus on increasing content investment to drive engagement and subscriber growth [14][16] Question: Investment plans for Paramount Skydance and studio turnaround - Management confirmed plans for significant investment in content, with a goal to increase film output and leverage creative partnerships for growth [21][24] Question: Updated view on TV media segment and advertising trends - Management noted the distinct trends between broadcast and cable, emphasizing the importance of CBS as a cornerstone asset while addressing the decline in cable [28][30] Question: Interrelation of tech and entertainment and revenue growth tools - Management discussed initiatives to improve technology capabilities, including unifying streaming services and enhancing ad tech to drive revenue growth [36][40] Question: M&A philosophy and balance sheet goals - Management stated a focus on building rather than acquiring, with a disciplined approach to M&A that aligns with long-term value creation [49][50] Question: UFC strategy and return on investment - Management expressed excitement about the UFC partnership, highlighting its potential to drive subscriber growth and engagement across platforms [56][58] Question: Long-term profitability of the DTC business - Management indicated that the DTC segment will be profitable next year, with a focus on improving working capital and cash tax rates to enhance free cash flow [67][71]

Group 1 - Paramount has recently laid off 1,000 employees, with approximately 600 opting for severance packages as the company mandates a return to office starting January [1] - The company anticipates an additional 1,600 staff reductions following the sale of Televisión Federal in Argentina and Chilevision in Chile, expected to be completed in Q1 2026 [2] - About 25% of Paramount's senior vice presidents and above were affected by the initial workforce reduction, aimed at streamlining decision-making and enhancing organizational agility [3] Group 2 - Paramount expects to achieve $3 billion in cost savings, an increase from the initial forecast of $2 billion [4] - The company is reorganizing into three business units: Studios, DTC, and TV Media, to streamline operations and improve decision-making [5] - Targeted one-time investments of approximately $800 million are estimated for 2026, with an additional $400 to $500 million for 2027, to support growth alongside cost-cutting measures [6] Group 3 - Paramount plans to make incremental programming investments exceeding $1.5 billion in 2026, focusing on DTC investments, Paramount+ Originals, and film slate expansion [7]

Core Insights - Paramount Global and Skydance expect to achieve $1 billion more in merger savings than previously forecasted, highlighting CEO David Ellison's strategic ambitions for the company [1] Group 1: Financial Performance and Strategy - Paramount's third-quarter earnings report marks the first since the merger closed in early August, indicating a significant milestone for the company [2] - The company has been heavily investing in streaming and content, particularly in live sports rights, while offsetting costs through cuts in other business areas [2] - A new round of layoffs affecting approximately 1,600 employees has been announced, linked to asset divestitures in Argentina and Chile [2] Group 2: Future Plans - Paramount plans to increase prices for its flagship streaming service, Paramount+, in the first quarter of next year, aiming to enhance its content offerings and improve platform technology [3]

Core Insights - Paramount Skydance plans to invest $1.5 billion in programming for the upcoming year, while forecasting fourth-quarter revenue to exceed Wall Street estimates [1] - The company reported a third-quarter revenue of $6.7 billion, which fell short of analysts' expectations of $6.97 billion [2][3] - For the fourth quarter, Paramount Skydance anticipates revenue between $8.1 billion and $8.3 billion, surpassing the estimated $8 billion [3] - The company will reduce its workforce by approximately 1,600 jobs as part of a strategic review, in addition to the 1,000 layoffs announced in late October [1]

Core Insights - Paramount's third-quarter revenue was $6.71 billion, falling short of the $6.99 billion expected by analysts, but the company provided optimistic projections for 2026 [1][2] - The company anticipates 2026 revenue of $30 billion and adjusted OIBDA of $3.5 billion, driven by increased streaming revenue and global profitability [2] - Cost savings from the Skydance merger have been increased from $2 billion to $3 billion [2] Financial Performance - The earnings report is the first following the completion of the Skydance merger on August 7, which faced a lengthy regulatory process [3] - Investors reacted positively to the earnings results, with shares rising in after-hours trading after a period of sluggish performance [4] Strategic Moves - Paramount is downsizing, laying off about 2,000 workers, which is roughly 10% of its global workforce, to achieve the promised cost savings from the merger [5] - The company has been active in dealmaking, including a $7.7 billion acquisition for UFC rights and a $150 million deal for Bari Weiss's The Free Press [5] Talent Acquisition and Competition - Paramount attracted the Duffer Brothers from Netflix but lost Yellowstone creator Taylor Sheridan to NBCUniversal [6] - The company has made three offers to acquire Warner Bros. Discovery, which is valued around $60 billion, while WBD is also considering a split into two separate companies [7]

Core Insights - Paramount Skydance Corporation (Nasdaq: PSKY) announced its financial results for the third quarter ended September 30, 2025, with the report set to be available on November 10, 2025 [1][6]. Company Overview - Paramount, a Skydance Corporation, is a leading global media and entertainment company with three business segments: Filmed Entertainment, Direct-to-Consumer, and TV Media. The company's portfolio includes renowned brands such as Paramount Pictures, CBS, Nickelodeon, and Showtime [4]. Upcoming Events - A live audio webcast of the financial results will be available on Paramount's Investors homepage starting at 1:30 p.m. (PT) / 4:30 p.m. (ET) on November 10 [1]. - The conference call can be accessed by dialing specific numbers for domestic and international participants, with an audio replay available later on the Investors homepage [2]. Partnership Expansion - Paramount and UFC announced an expansion of their partnership to Latin America and Australia starting in 2026, indicating a strategic move to enhance their market presence [5].

Financial Data and Key Metrics Changes - Revenues grew 7.5% year-on-year in USD terms, reaching $1.115 billion in Q3 2025 [4][22] - USD EBITDA increased by 19.7% year-on-year, amounting to $524 million, with an EBITDA margin of 47%, up 400 basis points year-on-year [4][22] - Last 12-month EPS stands at $8.89, up 60.2% year-on-year, although reported EPS for Q3 alone was a loss of $1.84 per share due to non-cash charges [7][8] - Direct digital revenues surged 63% year-on-year, now contributing 17.8% of total group revenues [4][22] Business Line Data and Key Metrics Changes - Telecom and infrastructure segment revenues grew 3.5% on a like-for-like basis, reflecting differentiated networks and services [7] - Digital services now account for 17.8% of total revenues, up from 11% a year ago [22] - Multiplay customers, who use at least one digital service in addition to voice and data, generated 55.4% of total customer revenues, growing revenue-wise by 23% year-on-year [11][12] Market Data and Key Metrics Changes - Strong double-digit revenue growth was delivered across all markets except Bangladesh, which returned to year-on-year growth for the first time in 14 months [12] - VLINE Kazakhstan's revenues grew 23.3% on a like-for-like basis, adjusting for TNS Plus deconsolidation [12] - The financial services business in Pakistan saw gross transaction value rise 40% year-on-year, representing 13% of Pakistan's GDP [13] Company Strategy and Development Direction - The company is focused on a digital operator model, combining connectivity, digital platforms, and financial inclusion to unlock sustainable growth [4] - The asset-light strategy continues with the sale of Kyrgyzstan operations and a global framework agreement with Starlink for satellite connectivity [5][6] - The company is committed to enhancing its digital services portfolio, with AI integration becoming central to operations [5][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory despite macro and geopolitical challenges, revising EBITDA growth outlook to 16%-18% in local currency terms for the full year [24] - The board approved a $100 million share and/or bond repurchase program, reflecting confidence in growth prospects [6][24] - Management highlighted the importance of digital engagement exceeding mobile engagement, indicating a shift in customer interaction [15] Other Important Information - The listing of Kyivstar on NASDAQ unlocked significant value, with a current market valuation of $2.8 billion [6] - The company retains an 89.6% stake in Kyivstar, valued at $2.5 billion at current market prices [6] - The company ended the quarter with a cash balance of $1.67 billion, including $653 million at headquarters [23] Q&A Session Summary Question: Motivation for choosing a SPAC structure for Kyivstar's listing - Management believed in Ukraine's future and opted for a De-SPAC process to fast-track the listing, achieving a valuation of $2.8 billion [26][27] Question: Plans for cash at headquarters level - The cash at headquarters is $653 million, with limitations on upstreaming due to martial law in Ukraine, focusing on investments in the country [27][28] Question: Future of tower assets in Ukraine - The company aims to pursue an asset-light strategy, considering independent tower companies for better infrastructure management [29][30] Question: Financial services growth in Pakistan - The financial services business is growing steadily, with a focus on microloans and a significant merchant network driving cashless transactions [32][33] Question: Plans for ride-hailing business expansion - The ride-hailing business operates in 28 cities, with plans to explore growth in other markets on a city-by-city basis [44] Question: Digital banking license for MMBL - The company is considering upgrading to a full digital bank license to enhance capabilities and contribute to the cashless economy initiative [43]

Welcome back to Worldwide Exchange. Time for this morning's insider action. Tracking notable insider stock moves by company directors and executives that are outside pre-planned stock sales.As always, the data coming from Varity data, but confirmed by CNBC's data team against SEC filings. Las Vegas Sand CEO Robert Goldstein selling more than a million shares of the gaming giant, netting him nearly $49 million. Goldstein will transition to an advisory role with the company in March.That stocks up more than 2 ...

Market Position - IMAX's global screens are highly sought after due to their strong performance [1] - Filmmakers are competing to secure IMAX screens well in advance [1] Industry Trend - IMAX is outperforming a box office that has been struggling for years [1]

Investment Rating - The report assigns a "Buy" rating for Damai Entertainment Holdings (1060.HK) with a target price of HK$1.30, representing an upside of 38.3% from the current price of HK$0.94 [1][4][20]. Core Insights - Damai Entertainment announced a positive profit alert for 1HFY26, with net profit attributable to owners expected to be no less than Rmb500 million, which is at least 7% above the forecasted Rmb468 million, indicating a year-on-year growth of over 49% [1]. - The significant growth in net profit is attributed to strong year-on-year growth in the Alifish business and a reduction in investment losses [1]. - For the upcoming 1HFY26E results, total revenue is forecasted to be Rmb3.7 billion, reflecting a 20% year-on-year increase, driven by an 84% growth in the IP segment [2]. - The IP segment is expected to benefit from strong contributions from Sanrio China and newly onboarded IPs, which are anticipated to double the GMV for AliFish [2]. - Adjusted EBITA is projected to be Rmb525 million, representing a 9% year-on-year increase when excluding a one-off write-back of bad debt from the Film segment in 1HFY25 [3]. - Key areas to monitor include the growth momentum of the IP business, updates on the Damai ticketing business, and margin dynamics for Damai's international business investments [4]. Financial Projections - Revenue projections for Damai Entertainment are as follows: Rmb6,702.3 million for FY25, Rmb7,620.5 million for FY26E, Rmb9,049.0 million for FY27E, and Rmb10,308.6 million for FY28E [7]. - EBITDA is expected to grow from Rmb756.2 million in FY25 to Rmb1,842.0 million by FY28E [7]. - The report anticipates a significant increase in EPS from Rmb0.02 in FY26E to Rmb0.05 in FY28E [7]. - The company is projected to achieve a net income margin of 14.2% by FY28E, up from 5.4% in FY25 [17].