Paramount Global — Aug 8, 2024 release

In fact, for the fourth year in a row, Paramount+ is leading the industry in domestic sign-ups driven by our big broad hit TV series and blockbuster films. DTC profit growth for the past four quarters has totaled nearly $900 million and we are on track to reach domestic profitability for Paramount+ in 2025. Looking ahead, we will continue to aggressively execute on our Strategic Plan which focuses on transforming streaming to accelerate profitability, streamlining our organization — including at least $500 million in annualized cost savings — and improving the balance sheet by growing free cash flow and optimizing our asset mix. We are confident that our Plan will drive long-term value by leveraging our broad hit content as we continue to transform Paramount for the future. $ IN MILLIONS, EXCEPT PER SHARE AMOUNTS Three Months Ended June 30 Six Months Ended June 30 GAAP 2024 2023 B/(W)% 2024 2023 B/(W)% Revenue $ 6,813 $ 7,616 (11)% $ 14,498 $ 14,881 (3)% â–ª TV Media 4,271 5,157 (17)% 9,502 10,350 (8)% â–ª Direct-to-Consumer 1,880 1,665 13 % 3,759 3,175 18 % â–ª Filmed Entertainment 679 831 (18)% 1,284 1,419 (10)% â–ª Eliminations (17) (37) 54 % (47) (63) 25 % Operating loss (a) $ (5,318) $ (250) n/m $ (5,735) $ (1,476) n/m Diluted EPS from continuing operations attributable to Paramount (a) $ (8.12) $ (.59) n/m $ (9.08) $ (2.40) n/m Non-GAAP (b) Adjusted OIBDA $ 867 $ 606 43 % $ 1,854 $ 1,154 61 % Adjusted diluted EPS from continuing operations attributable to Paramount $ .54 $ .10