Paramount Global fell short of Wall Street's fourth-quarter revenue expectations on Wednesday as a continued decline in its cable TV unit clouded higher-than-expected subscriber growth for its Paramount+ streaming platform.

Paramount Global reported weaker-than-expected earnings, highlighting the challenges of its transition to streaming amid declining traditional media segments.

With a sale to Skydance Media pending, the studio saw its film unit lift overall revenues by 67 percent to $1.08 billion, driven by theatrical box office for ‘Gladiator 2' and ‘Sonic the Hedgehog 3.'

Paramount Global missed Wall Street expectations in its fourth quarter of 2024, after its results were weighed down by operating losses in its direct-to-consumer and filmed entertainment divisions and lower revenue and operating profit in its TV/Media segment.