CBS's (CBS) Solid Quarter and Outlook Reaffirms Top Pick - BMO
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CBS profit meets Wall Street targets but shares slip
February 11, 2016 4:18 PM ESTBy Lisa Richwine and Arathy S Nair
(Reuters) - CBS Corp (NYSE: CBS) profit rose in line with Wall Street expectations on Thursday as the media company reported a bump in network advertising and said international sales of its television shows were strong.
Still, shares fell 1.4 percent to $42.95 in after-hours trade following a hectic session for the overall market.
CBS and other media companies are under pressure to show they can survive and thrive as younger viewers turn away from traditional television.
The owner of Showtime and CBS Sports Networks,... More
CBS Corp. (CBS) Reports In-Line Q4 EPS
February 11, 2016 4:12 PM ESTCBS 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... More
