CBS Corp Q1 Profit Surges 80%, Beating View (CBS)

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Mass media giant CBS Corporation ( CBS ) late Tuesday posted a sharp uptick in first quarter earnings, driven by new licensing revenue, beating analyst expectations.

The New York-based company reported first quarter net income of $363 million, or 54 cents per share, compared with $202 million, or 29 cents per share, in the year-ago period.

Revenue rose 12% from last year to $3.92 billion.

On average, Wall Street analysts expected a much smaller profit of 44 cents per share, on lower revenue of $3.79 billion.

CBS Corp shares closed up slightly in Tuesday trading.

The Bottom Line
Shares of CBS Corp ( CBS ) have a 1.20% dividend yield, based on today's closing stock price of $33.42. The stock has technical support in the $30 price area. The shares are trading right near all-time highs.

CBS Corporation ( CBS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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