CBS Corp. (CBS) Reports Q3 EPS of $1.05
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CBS Corp. (NYSE: CBS) reported Q3 EPS of $1.05, versus $0.88 reported last year. Revenue for the quarter came in at $3.4 million, versus $3.26 million reported last year.
"CBS is clearly knocking the cover off the ball, including revenue and profit growth across every one of our operating segments," said Leslie Moonves, Chairman and Chief Executive Officer, CBS Corporation. "Our premium content continues to be the driving force behind our success, starting with the CBS Television Network, which kicked off another terrific season as the #1 network, with the #1 new drama, Bull, and the #1 new comedy, Kevin Can Wait. With ownership in all of our new fall shows, we have once again positioned our Company to monetize additional content across all platforms for years to come. This includes content licensing and distribution, which benefited from a 40% increase in streaming revenue during the third quarter. It also includes affiliate and subscription fees, where retransmission consent and reverse compensation grew 32% during the quarter, and where we continue to see rapid growth in our subscription streaming services, CBS All Access and Showtime OTT. Meanwhile, advertising remains strong and is accelerating here in the fourth quarter as our new upfront pricing kicks in and political spending is ramping up nicely. Looking ahead to the separation of our radio business, we see additional opportunities to return value to shareholders and invest in our core content business. So we feel extremely good about our future, and we are confident we have set ourselves up to succeed under any scenario."
For earnings history and earnings-related data on CBS Corp. (CBS) click here.
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