CBS (NYSE: CBS) reported Thursday that the company’s third-quarter earnings beat analyst forecasts, according to Associated Press.
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The broadcast network operator says sales of popular shows to other networks and higher subscription fees for pay-TV service Showtime helped overcome an advertising downturn.
CBS Corp., which is controlled by media mogul Sumner Redstone, posted net income of $208 million, reversing a $12.5 billion loss in a year-ago quarter that was marred by impairment charges.
Adjusted for one-time items, the earnings came to 25 cents per share, cruising past analyst expectations for 22 cents per share.
Revenue fell less than 1 percent to $3.35 billion, also handily beating forecasts.
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