CBS beats Wall St estimate for quarterly revenue
CBS, whose shows include hit sitcom "The Big Bang Theory," said advertising revenue during the second quarter rose slightly to $1.32 billion.
Overall revenue increased to $3.47 billion, up from $3.26 billion a year earlier, beating analysts` average estimate of $3.46 billion, according to Thomson Reuters I/B/E/S.
Shares of CBS were flat at $52.64 in after-market trading on Thursday.
In addition to investigating Moonves, who remains CEO, the New York-based media company is fighting to wrest control from majority shareholder Shari Redstone who wants a merger with Viacom Inc
CBS said affiliate and subscription fees revenue, which includes revenue from cable, satellite and streaming TV providers, rose to $989 million from $848 million a year before.
Net income from continuing operations was $400 million, or $1.05 per share in the second quarter ended June 30, up from $397 million, or 97 cents per share, a year earlier.
Excluding one-time items, CBS reported profit of $1.06 per share, missing analysts` average estimate of $1.11.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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