Paramount Sales, Profit Fall Short as TV Networks Decline

Paramount Global, the parent of CBS and MTV, reported fourth-quarter sales and profit that fell short of analysts’ expectations, as gains in streaming failed to offset declines in traditional TV.

Revenue overall rose 5% to $7.98 billion, missing analysts’ forecasts for $8.06 billion. The company reported an adjusted loss of 11 cents per share. Wall Street projections were for an 11-cent-per-share profit.