Paramount Global shares fall 1.99% premarket despite beating earnings target ahead of sale to Skydance.

Paramount Global dropped 1.99% in premarket trading. The company reported second-quarter earnings that exceeded Wall Street estimates, with adjusted earnings-per-share of 46 cents, beating the predicted 36 cents per share. Revenue rose 1% from a year earlier to $6.85 billion, edging the analyst consensus of $6.84 billion. Subscription revenue growth at the Paramount+ streaming service helped boost affiliate and subscription revenue.