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CBS Corp. (CBS) Reports In-Line Q4 EPS

February 11, 2016 4:12 PM EST
Get Alerts CBS Hot Sheet
Price: $40.77 --0%

Financial Fact:
Operating income: 798M

Today's EPS Names:
REE, TNP, CELC, More
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CBS Corp. (NYSE: CBS) reported Q4 EPS of $0.92, in-line with the analyst estimate of $0.92. Revenue for the quarter came rose 6% to $3.91 billion versus the consensus estimate of $3.8 billion.

"We had a terrific fourth quarter, and CBS is now in position to build strong momentum throughout 2016," said Leslie Moonves, Chairman, President and Chief Executive Officer, CBS Corporation. "Our base businesses are growing well, thanks to the strength of our premium content and the continued improvement in the advertising marketplace. In addition, with Super Bowl 50 here in the first quarter and political spending ramping up into the fourth, we expect 2016 will be a very good year for advertising. At the same time, our other high-margin revenue streams continue to thrive. Retransmission consent and reverse compensation are set to hit $1 billion in 2016 — a year earlier than expected — and are on pace to surpass $2 billion in 2020. The international market is extremely exciting as well, with demand for our CBS programming higher than ever and new deals that are changing the way we license the Showtime brand overseas. Plus, our new streaming services — CBS All Access, CBSN, and Showtime over the top — are attracting a whole new set of younger viewers on better economic terms. So no matter how quickly the digital world changes — and no matter how viewers want their content — CBS is positioned to succeed."

Three Months Ended

Twelve Months Ended

December 31,

December 31,

Revenues by Segment

2015

2014

2015

2014

Entertainment

$

2,460

$

2,260

$

8,438

$

8,309

Cable Networks

562

499

2,242

2,176

Publishing

233

215

780

778

Local Broadcasting

719

785

2,607

2,756

Eliminations

(64)

(78)

(181)

(213)

Total Revenues

$

3,910

$

3,681

$

13,886

$

13,806

Three Months Ended

Twelve Months Ended

December 31,

December 31,

Revenues by Type

2015

2014

2015

2014

Advertising

$

2,159

$

2,147

$

7,018

$

7,204

Content licensing and distribution

1,014

873

3,903

3,990

Affiliate and subscription fees

680

601

2,724

2,362

Other

57

60

241

250

Total Revenues

$

3,910

$

3,681

$

13,886

$

13,806

Three Months Ended

Twelve Months Ended

December 31,

December 31,

Segment Operating Income (Loss)

2015

2014

2015

2014

Entertainment

$

347

$

253

$

1,294

$

1,316

Cable Networks

228

241

945

974

Publishing

34

25

114

101

Local Broadcasting

232

292

765

878

Corporate

(94)

(104)

(275)

(295)

Adjusted Operating Income

747

707

2,843

2,974

Restructuring charges

(26)

(81)

(26)

Impairment charges

(484)

(484)

(52)

Gain on sales of businesses

120

139

Total Operating Income

$

357

$

707

$

2,417

$

2,896

Three Months Ended

Twelve Months Ended

December 31,

December 31,

Depreciation and Amortization

2015

2014

2015

2014

Entertainment

$

31

$

34

$

126

$

139

Cable Networks

6

6

23

23

Publishing

2

2

6

6

Local Broadcasting

19

21

79

87

Corporate

7

8

30

26

Total Depreciation and Amortization

$

65

$

71

$

264

$

281

For earnings history and earnings-related data on CBS Corp. (CBS) click here.



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