stock fell sharply on Thursday after the media company reported a big miss on quarterly profits, partly due to a slump in advertising.
For the fourth quarter, the media company (ticker: PARA) delivered adjusted profits of 8 cents per share on Thursday. That’s much lower than the consensus expectation of analysts tracked by FactSet , which was 24 cents per share. Revenue of $8.13 billion slightly missed expectations of $8.2 billion.
