CBS Corp post improved profits
US based media company CBS Corp has posted higher-than-expected 8 percent rise in quarterly profits.
The company gained from their publishing and outdoor advertising businesses. CBS posted revenues which fell 3 percent to $3.28 billion. The profits were at $343.3 million, or 48 cents a share. This is an improvement from profits of $316.9 million, or 41 cents a share in the same period last year.
They have also been selling their assets in the recent times as they are getting rid of their margin properties.
In addition, CBS is also working on raising its dividend and buying back stock.
Chief Executive Les Moonves spoke about their revenue report: “This refocusing of our assets is well underway. Going forward, we will continue to position ourselves for faster growth of revenues across all the emerging platforms.”
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