Paramount Global (PARA) CEO Bob Bakish on Q1 2022 Results - Earnings Call Transcript

Paramount Global (NASDAQ:PARA) Q1 2022 Results Conference Call May 3, 2022 8:30 AM ET

Company Participants

Anthony DiClemente - EVP, IR

Bob Bakish - President and CEO

Naveen Chopra - CFO

Conference Call Participants

Brett Feldman - Goldman Sachs

Michael Morris - Guggenheim

Bryan Kraft - Deutsche Bank

Rich Greenfield - LightShed Partners

Benjamin Swinburne - Morgan Stanley

Phil Cusick - JP Morgan

Jessica Reif Ehrlich - BoA Securities

Robert Fishman - MoffettNathanson

Operator

Good morning. My name is Charlie, and I’ll be the conference operator today. At this time, I’d like to welcome everyone to the Paramount Global Q1 2022 Earnings Conference Call. All lines have been muted to prevent any background noise. After the speakers’ remarks, there will be a Q&A session. [Operator Instructions]

At this time, I would now like to turn the call over to Anthony DiClemente, Paramount Global’s, EVP Investor Relations. You may now begin your call.

Anthony DiClemente

Good morning, everyone. Thank you for taking the time to join us for our first quarter 2022 earnings call. Joining me for today’s discussion are Bob Bakish, our President and CEO and Naveen Chopra, our CFO.

Please note that in addition to our earnings release, we have trending schedules containing supplemental information available on our website.

I want to remind you that certain statements made on this call are forward-looking statements that involve risks and uncertainties. These risks and uncertainties are discussed in more detail in our filings with the SEC. Some of today’s financial remarks will focus on adjusted results. Reconciliations of these non-GAAP financial measures can be found in our earnings release or in our trending schedules, which contains supplemental information, and in each case can be found in the Investor Relations section of our website.

And now, I will turn the call over to Bob.

Bob Bakish

Good morning, everyone. I’m excited to update you on our results for the first time, since we unveiled the new Paramount brand and the Paramount vision in February. As we said then, the Paramount brand represents the best in media and entertainment, and we pride ourselves on delivering superior content across platforms to fans all around the world. Today’s results show we are already executing on that vision. We have strong momentum across our business from our fast-growing streaming services and top box office films to our highly rated television programming. And we’re on track to deliver against the long-term goals we laid out at our recent investor event. I think you will see this as Naveen walks you through the details of our segment financial shortly.