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CBS Beats Quarterly Earnings Expectations
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08.05.2015
CBS said Thursday that it earned 78 cents per share in the most recent quarter on $3.5 billion revenue, which beat the expectations of analysts, sending the stock of the TV company 1 percent higher in after-hours trading. Analysts were expecting 73 cents per share of earnings on $3.47 billion revenue. In the year-ago quarter, CBS earned 77 cents a share on $3.57 billion revenue. The company said that revenue was lower than a year earlier because CBS showed one fewer NFL playoff game than in the same quarter a year ago. CBS is coming off its best year in history, having earned $3 billion in 2014 on $13.8 billion revenue due to digital streaming deals and rising reverse compensation fees. CEO Les Moonves says those businesses are also driving this year's results.
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