Paramount Global's (NASDAQ: PARA) (NASDAQ: PARA.A) stock price jumped over 20% after its third-quarter business update was released on Nov. 2. The media giant reported revenue mostly in line with expectations, but adjusted earnings per share of $0.30 were much higher than the $0.11 consensus EPS estimate.

Management is now calling for "significant earnings growth" in 2024, so now might be a good time to revisit this beaten-down media stock. Here are three things about Paramount's business that smart investors need to know before deciding on the stock.

One reason for the stock's 27% slide over the last year is mounting losses to support growth in streaming. As showed over the last decade, it takes time to build a highly profitable streaming service. But one reason to like Paramount is the recent run at the box office.

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Source Fool.com