MoffettNathanson senior analysts Robert Fishman and Michael Nathanson took a close look at Paramount, the parent company of CBS, following the release of its third quarter 2022 earnings and don’t have the best assessment to offer, based on what they’ve reviewed.
“Let’s start with a candid observation,” they said. “Paramount is in a tough position as both cyclical and secular challenges impact the company’s linear businesses while the Direct-to-Consumer (DTC) pivot remains a drag on profits and cash flow, without any clear line of sight for long-term expectations. In the purest business sense, Paramount is stuck between a rock and a hard place.”
