Paramount Skydance reported a fall in second-quarter net profit, as growth in its streaming and studio businesses was outweighed by a sharper decline in its traditional television division. The results underline the ongoing shift in the company's finances away from linear TV, which remains its largest segment but is losing advertising revenue and subscribers, even as chief executive David Ellison reaffirmed his commitment to completing the contested acquisition of Warner Bros. Discovery.

Net earnings dropped to $41 million (four cents per share), down from $57 million (eight cents per share) a year earlier, despite revenue edging up 1% to $6.91 billion. TV revenue fell 9% to $3.12 billion, hit by a 14% drop in advertising and a 6% decline in distribution fees, while streaming revenue rose 9% to $2.5 billion, with Paramount+ up 16% and adding 2 million subscribers. The studios division grew 16% to $1.3 billion, boosted by films such as "Scary Movie". Paramount forecast third-quarter revenue growth of 4-7%, and Ellison said he remained confident the Warner Bros. Discovery deal would close despite recent legal delays.