Paramount Tops Profit Outlook Amid Warner Bros. Bidding War

Paramount Skydance Corp. reported fourth-quarter sales and earnings that beat Wall Street projections, just days after submitting a new bid to acquire entertainment rival Warner Bros. Discovery Inc.

The parent of CBS and MTV posted revenue of $8.15 billion, surpassing analysts’ estimates of $8.12 billion. Adjusted operating income before interest, taxes, depreciation and amortization totaled $612 million. Investors were expecting $561.9 million. In November, the company had forecast $500 million to $600 million.