Higher Ad Revenue Boosts CBS Corp’s Q3 Earnings (CBS)


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Media giant CBS Corporation ( CBS ) late Thursday posted better-than-expected third quarter earnings, led by a 25% surge in ad revenue from its broadcast networks.

The New York-based company reported third quarter net income of $317.3 million, or 46 cents per share, compared with $207.6 million, or 30 cents per share, in the year-ago period. Excluding items, adjusted profit was 35 cents per share, which exceeded the average Wall Street analyst estimate for 31 cents per share.

Revenue fell slightly from last year to $3.3 billion, although last year's results included some $300 million from one-time syndication sales.

CBS shares rose 9 cents, or +0.5%, in premarket trading Friday.

The Bottom Line
Shares of CBS Corp ( CBS ) have a 1.13% dividend yield, based on last night's closing stock price of $17.66. The stock has technical support in the $15-$16 price area. If the shares can firm up, we see overhead resistance around the $21 price level.

CBS Corporation ( CBS ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 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 Nasdaq, Inc.

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