February 15, 2018 / 9:20 PM / 6 months ago

CBS profit drops 85 pct on tax charge

Feb 15 (Reuters) - Media company CBS Corp, which is exploring a merger with Viacom Inc, on Thursday reported a 85.2 percent drop in quarterly profit, largely due to a $129 million charge related to the recent changes in the U.S. tax law.

The owner of the most watched U.S. television network reported net income from continuing operations of $40 million, or 10 cents per share, in the fourth quarter ended Dec. 31, down from $271 million, or 63 cents per share, a year earlier.

CBS, home to popular shows such as “Big Bang Theory” and “NCIS”, said revenue rose 11.5 percent to $3.92 billion.

Reporting by Munsif Vengattil in Bengaluru; Editing by Sriraj Kalluvila

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