Paramount Global (NASDAQ:PARA) has unveiled its Q1 2024 earnings, showcasing significant growth driven by a substantial 51% increase in Paramount+ revenue year-over-year.
This surge helped propel the streaming service to surpass 71 million global subscribers, marking a major achievement for the company.
Additionally, Paramount reported a 17% rise in total advertising revenue and a 6% overall increase in company revenue.
This financial uplift translated into a notable improvement in cash flows, with the company generating $260 million in operating cash flow and $209 million in free cash flow during the quarter.