Paramount met most of Wall Street’s expectations in the first quarter, though gains at flagship streamer Paramount+ fell slightly short. The company reported total revenue of $7.347 billion in the January-to-March period, slightly ahead of the consensus outlook by analysts for $7.28 billion. Earnings per share matched the estimate of 15 cents. While it is poised to become a much larger player in the media business via a pending merger with Warner Bros. Discovery, Paramount is also still fresh off its merger with Skydance last August. The quarterly numbers are being compared with the two companies’ combined numbers on a pro-forma basis. Direct-to-consumer revenue increased 11% from the same period a year ago, reaching $2.4 billion. Paramount+ added 700,000 subscribers to reach 79.6 million, missing analysts’ target of 1 million new subscribers despite the company’s splashy rights deal with the UFC taking effect during the quarter.…