Tags: CBS | Profit | Ad | Revenue

CBS Profit Beats Estimates on Upbeat Ad Revenue

Wednesday, 01 May 2013 06:14 PM

Broadcaster CBS says it had record revenue in the first three months of the year and profit that beat analysts' expectations as big events like the Super Bowl pushed advertising revenue higher.

First-quarter earnings rose 22 percent to $443 million, or 69 cents per share.

Excluding a loss from the outdoor billboard business in Europe and Asia, which it expects to sell this year, adjusted earnings came to 73 cents per share, 5 cents better than the 68 cents predicted by analysts polled by FactSet.

Revenue rose 6 percent to $4.04 billion, better than the $4.02 billion expected by analysts.

Ad revenue was up 8 percent to $2.46 billion, but content licensing fees fell 1 percent to $1.01 billion.

CBS Corp.'s stock rose 1.3 percent in after-hours trading to $47.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Companies
Broadcaster CBS says it had record revenue in the first three months of the year and profit that beat analysts' expectations as big events like the Super Bowl pushed advertising revenue higher.
CBS,Profit,Ad,Revenue
130
2013-14-01
Wednesday, 01 May 2013 06:14 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved