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Broadcasting & Cable
Broadcasting & Cable
Business
Jon Lafayette

Paramount Global Stock Plunges After Reporting $1.1 Billion Q1 Loss

Paramount Paramount Global Paramount Plus Bob Bakish Pluto TV
Paramount Global West Coast heaquarters

Paramount Global stock plunged more than 25% on Thursday after the company announced a $1.1-billion loss for the first quarter.

The stock was also impacted by Paramount's announcement it was cutting its quarterly dividend to 5 cents a share from 24 cents a share to save cash.

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