Paramount+ subscriber growth helps offset TV media decline, company boosts outlook

Paramount's streaming business continued to grow in the second quarter, with Paramount+ subscribers reaching 81.6 million, helping to mitigate a 9% revenue slide in its traditional TV media unit. The entertainment company's total revenue edged up 1% to $6.91 billion. Buoyed by the streaming performance and cost-cutting measures, Paramount raised its full-year profit guidance.