Aug 7 CBS Corp, owner of the
most-watched U.S. television network, reported a 5.3 percent
fall in quarterly revenue as the loss of rights to broadcast the
semifinals of the NCAA college basketball tournament led to a
drop in advertising revenue.
Net income from continuing operations fell to $418 million
in the second quarter ended June 30, from $435 million a year
On a per share basis, net earnings from continuing
operations rose to 72 cents from 70 cents due to a fall in the
number of outstanding shares.
Revenue fell to $3.19 billion from $3.37 billion.
The company raised its share repurchase program to $6
billion from $3 billion.
(Reporting by Abhirup Roy in Bangalore; Editing by Sriraj