paramount global shares were popping in monday’s afterhours action after the media giant topped expectations with its latest quarterly financials the company posted a secondquarter net loss of 299 million or 48 cents a share whereas it posted net income of 419 million or 62 cents a share in the yearearlier period paramount para posted 10 cents in adjusted diluted earnings from continuing operations compared with 64 cents a year before analysts tracked by factset were modeling breakeven performance on adjusted earnings “in the second quarter we maintained our focus on scaling our streaming platforms maximizing our traditional business and building a sustainable business model that will return the company to significant earnings growth in 2024” chief executive bob bakish said in a shareholder presentation don’t miss roku faces risk from hollywood strikes but roku city might be able to help shares of the media giant were rallying 5 in monday’s extended session revenue slipped to 762 billion from 780 billion while analysts were expecting 744 billion revenue for the paramount streaming service was up 47 while total directtoconsumer advertising revenue grew by 21 “and despite the environment tv media continued to contribute significant earnings” bakish said “as we look forward we will continue to be guided by our contentfirst approach and seek to maximize its value across platforms and revenue streams while also operating with the utmost efficiency through this year of peak streaming investment” read streaming nirvana is about to become more expensive and offer less content the directtoconsumer business lost 424 million in the second quarter on the basis of adjusted operating income before depreciation and amortization separately paramount announced on monday that kkr will purchase its simon  schuster publishing business for 162 billion in an allcash deal “the proceeds will give paramount additional financial flexibility and greater ability to create longterm value for shareholders while also delevering our balance sheet” bakish said in a release disney earnings preview how much magic is left in the kingdom