CBS beats revenue estimates on higher entertainment sales [Reuters]
Via Renewables, Inc. - Class A (VIA)
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Source: Reuters
CBS beats revenue estimates on higher entertainment sales - Reuters 2 Min Read (Reuters) - CBS Corp ( CBS.N ) reported second-quarter revenue above estimates on Thursday, as the TV broadcaster got a boost from higher sales in its entertainment segment. Revenue from the segment rose about 14% to $2.74 billion, above analysts’ expectation of $2.62 billion, according to IBES data from Refinitiv. CBS, home to popular shows such as the “The Late Show with Stephen Colbert” and “Big Bang Theory”, has built advertising-supported, subscription video services that air original content. Sister company Viacom Inc ( VIAB.O ) also beat estimates for quarterly revenue and profit on Thursday, as it posted rare growth in domestic advertising revenue after five years of declines. Reuters also reported on Thursday that CBS and Viacom’s talks to recombine are continuing with a deal expected shortly. CBS said its net earnings rose to $440 million, or $1.17 per share, in the quarter ended June 30, from
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