CBS Q3 Profit Rises on Higher Margins, Beating View; Revenue Misses (CBS)

Broadcasting giant CBS Corporation (CBS) late Wednesday posted mixed third quarter earnings results, as profit beat Wall Street expectations but revenue fell short.

The New York-based company reported third quarter net income of $391 million, or 60 cents per share, compared with $338 million, or 50 cents per share, in the year-ago period. Excluding special items, adjusted profit was 65 cents per share.

Revenue rose 1.6% from last year to $3.42 billion.

On average, Wall Street analysts expected a smaller profit of 61 cents per share, albeit on higher revenue of $3.49 billion.

CBS shares rose 70 cents, or +2.1%, in premarket trading Thursday. The stock has gained about 25% year-to-date.

The Bottom Line
Shares of CBS Corporation (CBS) have a 1.41% dividend yield, based on last night’s closing stock price of $34.00. The stock has technical support in the $30-$32 price area. If the shares can firm up, we see overhead resistance around the $36-$38 price levels.

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.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here