Paramount Skydance to slash 1,600 more jobs after – Business News
Paramount Skydance mentioned it can make $1.5 billion in programming investments subsequent 12 months, because it forecast fourth-quarter income above Wall Street estimates, in its first quarterly outcomes for the mixed company for the reason that completion of the $8.4 billion merger.
Shares of the company had been up 2.5% in trading after the bell.
The company mentioned it can additionally cut about 1,600 jobs as half of a strategic review, as well as to the 1,000 workers it laid off in late October.
Paramount Skydance reported third-quarter income of $6.7 billion beneath analysts’ estimates of$6.97 billion. Getty Images
Paramount issued its first quarterly outcomes for the mixed company for the reason that completion of the $8.4 billion merger with Skydance. CEO David Ellison, above. AFP by way of Getty Images
For the fourth quarter, Paramount Skydance expects income between $8.1 billion and $8.3 billion, above estimates of $8 billion, in accordance to information compiled by LSEG.
It reported income of $6.7 billion for the third quarter, in contrast with estimates of $6.97 billion, in accordance to information compiled by LSEG.
