CBS profit up on higher licensing, pay TV revenue

Thu May 8, 2014 4:15pm EDT

May 8 (Reuters) - CBS Corp, owner of the most watched U.S. television network, reported higher quarterly earnings, helped by increased licensing of its shows and higher payments from cable and satellite operators that carry its channels.

The company's net earnings from continuing operations rose to $468 million, or 78 cents per share, in the first quarter, from $463 million, or 73 cents per share, a year earlier.

Revenue fell 4.5 percent to $3.86 billion in the quarter ended March 31.

(Reporting by Sruthi Ramakrishnan and Abhirup Roy in Bangalore; Editing by Saumyadeb Chakrabarty)

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