CBS 3Q Profit Matches Wall Street Expectations

By: AP Email
By: AP Email

NEW YORK (AP) - Broadcaster CBS Corp. grew earnings 26 percent in the third quarter, benefiting from higher ad revenue, sales of reruns of shows like "NCIS: Los Angeles" and pay-per-view boxing.

Net income in the three months through September rose to $494 million, or 80 cents per share, from $391 million, or 60 cents per share, a year ago.

Excluding discontinuing operations, earnings came to 76 cents per share, matching the expectations of analysts polled by FactSet.

Revenue rose 11 percent to $3.63 billion, beating the $3.53 billion analysts expected.

Shares of the New York-based company ticked up 30 cents to $59.90 in after-hours trading.


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