Adjusted OIBDA was up 20% at $858 million.
DTC advertising on Paramount+ and Pluto TV was up 18% at $507 million.
The drop was attributed to lower affiliate revenue and fluctuations in licensing turnover.
The Paramount Pictures lot in Los AngelesDavid McNew/Getty Images
Additionally, recognition of revenue unreported by an international sales partner helped push the numbers in the right direction.
Paramount also noted TV media licensing had dropped due to lower volumes in the secondary market.
Adjusted earnings decreased 19% to $939 million.
Filmed entertainment revenues fell 34% to $590 million, with theatrical down 71%.
Box office successes during the quarter includedA Quiet Place: Day OneandTransformers One.
The quarterly results are likely to be some of the last financials to emerge fromParamount Globalin its current structure.
After acquiring Paramount controlling shareholder National Amusements, Skydance will then merge with Paramount.
Until then, Paramount continues to operate in the normal course of business, the company said today.
Paramount confirmed in August it planned to cut 15% of its U.S. workforce by the end of 2024.
Weeks later, Skydance said it was eyeing $2 billion in cost savings from the merger.
Along with Warner Bros.
Linear cable assets have been acknowledged to be the main headache for traditional media companies.
