Reuters logo
UPDATE 1-CBS profit gains from more licensing of shows
November 7, 2012 / 9:35 PM / 5 years ago

UPDATE 1-CBS profit gains from more licensing of shows

LOS ANGELES, Nov 7 (Reuters) - CBS Corp reported on Wednesday a higher quarterly profit as the company brought in more revenue from the licensing of TV shows and subscriptions to its cable networks.

The company reported third quarter net earnings of $391 million, up from $338 million in the same quarter a year earlier. Adjusted diluted earnings per share reached 65 cents, CBS said.

Revenue rose 2 percent to $3.4 billion in the quarter. Advertising revenue fell 3 percent, driven by a drop at CBS Radio, the impact of foreign exchange rates, and pre-emption of primetime shows for the Republican and Democratic national conventions, the company said.

Shares of CBS rose 1.3 percent in after-hours trade to $34.45. CBS shares earlier closed down 1.2 percent at $34 on the New York Stock Exchange.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below