Revenue came in at $7.6 billion, while earnings totaled 4 cents a share.
Analysts had expected a loss of 1 cent per share, but revenue of $7.84 billion.
The dual strikes of 2023 also affected the pipeline at CBS and other networks, further squeezing ad sales.
The Paramount Pictures lot in Los AngelesDavid McNew/Getty Images
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The company said it is forecasting that its domesticstreamingbusiness will turn profitable by 2025.
It also said 2022 was the peak of streaming losses, confirming management commentary in recent months.
The company also brought in less revenue from studio rentals and production services as a result of the strikes.
The quarterly financials are landing during a time of great uncertainty at Paramount.
Shares in Paramount fell almost 2% Wednesday to close at $11.06.
