Paramount Global (PARA) will report second quarter earnings after the bell on Monday as the company continues to battle advertising headwinds, escalating streaming losses, and negative free cash flow.
The difficult TV ad market, which has hit legacy media companies across the industry, will likely pressure results in the second quarter with linear ad revenue projected to have dropped 8% in the quarter after dropping 11% year over year in Q1.
Management has maintained that the second half of the year will see improvements in the ad market.
Widening streaming losses will also be a concern after Paramount reported a direct-to-consumer loss of $511 million in the first quarter compared with a loss of $456 million in the prior-year period.
Paramount has projected over $2 billion of streaming losses this year with free cash flow at negative $400 million in the second quarter. Free cash flow…
