Its most successful film was the great but underseen Star Trek Beyond, grossing $157 million, which isn’t even a high for the series.
Basically that’s gobbledygook meaning that Paramount didn’t have a great summer at the movies.
That means that Paramount is expecting to lose money on a film – speculated to be Monster Trucks – and is changing their expectations for the fiscal quarter.
Paramount gave no reason for the delay, but Variety speculates that it may have something to do with the $115 million write-down that the studio announced just yesterday on an undisclosed movie.