CBS Corp. (CBS) Tops Q3 EPS by 7c

CBS Corp. (NYSE: CBS) reported Q3 EPS of $1.29, $0.07 better than the analyst estimate of $1.22. Revenue for the quarter came in at $3.26 billion versus the consensus estimate of $3.24 billion.

""CBS continues to deliver for our shareholders and execute our long-term growth strategy," said Joe Ianniello, President and Acting Chief Executive Officer, CBS Corporation. "We turned in our best third quarter ever in revenue and EPS, and we remain on track to achieve our 2018 outlook, with revenuegrowth in the high-single digits and EPS growth in the high teens. At CBS and Showtime, our must-have programming is driving subscriber increases across all platforms, especially on our own direct-to-consumer streaming services, leading to a new record in total subscribers. We are also significantly expanding our suite of over-the-top services through the recent launch of ET Live and the pending launches of 10 All Access in Australia and CBSN New York, with more international and local outlets on the way. Meanwhile, we\'ve just taken another key step in refilling our content pipeline with a new, strong primetime schedule on the CBS Television Network, where we have ownership in five of our six new shows. And at Showtime, we continue to enhance our year-round content slate by adding key programming in entertainment, documentaries, and sports, where we have become the clear industry leader in boxing. Up ahead, 2019 looks to be another outstanding year, with the Super Bowl and Final Four back on CBS, strong gains in retrans and reverse comp, and continued growth in our direct-to-consumer streaming services, which are on track to reach a combined eight million subs, a year ahead of our original projections. Overall, we are confident that our strategy of growing CBS\' leadership position as a global multi-platform premium content company will lead to even greater creative and financial heights in the years to come."

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