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CBS Delivers Mixed Q3 Results In Last Quarter As Stand-Alone Company

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CBS delivered a mixed set of third-quarter results, with earnings per share of 95 cents on an adjusted basis exceeding Wall Street analysts’ consensus forecast by two cents. Revenue grew just…

delivered a mixed set of third-quarter results, with earnings per share of 95 cents on an adjusted basis exceeding Wall Street analysts’ consensus forecast by two cents.It is expected to be the final quarter of results for CBS as an independent company before the CBSViacomAdjusted operating income fell 21% tofor the same period in 2018, with costs related to the Viacom merger and increased spending on programming taking a bite.

Acting CBS CEO Joe Ianniello flagged several areas of strength in the official earnings release. Direct-to-consumer revenue from the CBS All Access and Showtime streaming services gained 39% over the same quarter a year ago, a surge the exec credited to original programming.

 

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