Q3 2025

Is it just me, or do third-quarter earnings always seem especially strange?

We break down some of the most interesting financial trends coming out of Q3 earnings reports, and what rises to the level of being worth covering in the first place.

Paramount Skydance, which officially turns 100 days old this week, released its first post-merger quarterly earnings report on Monday.

Before Warner Bros. Discovery’s Q3 earnings call even began on Thursday, the investor relations team made it clear that leadership did not want to talk about the company currently trying to sell parts of itself to potential bidders.

Magnite says it’s not mad at The Trade Desk for prioritizing OpenPath or labeling all supply-side platforms as “resellers.”

Two quarterly reports might not be enough to confirm a pattern. But it is enough information to draw a line – and so far, that line is going up for MNTN.

WPP aims to turn around faster; YouTube TV tips the carriage deal market; and Roblox takes its time on video ads.

While Reddit had plenty to crow about on the advertising front, it was less sanguine about the rise of generative AI search, which CEO Steve Huffman said is “not a traffic driver today.”

If Roku’s third quarter earnings call could be distilled into a single phrase, it would be “early days.” (With “bullish” as a runner-up, perhaps.)

Comcast has had a pretty rough go of it lately – but there’s still plenty of room for a turnaround.