Paramount Global (PARA, PARAA) reported mixed second quarter results. Adjusted earnings of $0.54 per share was well above the $0.13 analysts polled by Bloomberg were expecting. Revenue was $6.81 billion versus the $7.24 billion estimate.

The company also reported that its direct-to-consumer business posted a profit for the first time, though Paramount+ subscribers fell.

Like rival Warner Bros. Discovery (WBD), Paramount has decided to take a $5.98 billion goodwill impairment charge for its Cable Networks unit.

Yahoo Finance senior reporter Alexandra Canal recaps the results in the video above.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Stephanie Mikulich.