CBS Earnings: Here’s Why Shares are Up Now
CBS Corporation (NYSE:CBS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.51%.
CBS Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 35.19% to $0.73 in the quarter versus EPS of $0.54 in the year-earlier quarter.
Revenue: Rose 2.96% to $4.04 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: CBS Corporation reported adjusted EPS income of $0.73 per share. By that measure, the company beat the mean analyst estimate of $0.68. It beat the average revenue estimate of $4.02 billion.
Quoting Management: “CBS has started the year with a terrific first quarter,” said Sumner Redstone, Executive Chairman, CBS Corporation. “Our premium content and multiplatform distribution strategy are leading to results that are better than ever. I am confident that this approach, under the guidance of Leslie and his team, will continue to propel CBS ahead in the years to come.”
Key Stats (on next page)…