Tweet

CBS Gains 14% in Q1

By Robert Marich -- Broadcasting & Cable, 5/4/2008 8:00:00 PM

Helped by sales in its syndication division, CBS's net income rose 14% in the first quarter, and President and CEO Leslie Moonves increased the quarterly dividend payment by 8% to $0.27 per share, which Moonves noted is among the highest in the industry.

But CBS reported weak local TV and radio ad sales, downbeat results in its radio segment, and a less-robust forecast for full-year results.

Revenue was down very slightly to $3.654 billion from $3.658 billion a year earlier. Net income climbed to $244.3 million from $213.5 million, up 14%. The company forecast that operating income will be up 3%-5% in 2008, excluding stock-based executive compensation and restructuring charges.

Tweet

Talkback

We would love your feedback!

Post a comment

» View All Talkback Threads

Related Content

• Topics
• Author
• Most Popular Pages

No related content found.

Also by this author

• Hot Market for Business Channels

• Billionaire Buffett Gives GE Seal of Approval

• LIN-Time Warner Cable Retrans Talks Hit Crunch Time

• Warner, CBS, Hulu, E! Supply Web Videos to Slide

• Optimedia Ranks Olympics Above Super Bowl

Also by Robert Marich

Most Popular Pages

No Top Articles

• Resource Center
• Browse Categories
• Browse Companies

Featured Company

• TMS

  

  Since 1965 TMS has provided world-class TV & movie data to businesses whose success depends on the accurate, engaging display of entertainment content. More than 4,000 customers rely on TMS data to fuel the most exciting guides and UIs on the planet. To learn more, please vis..more

---

Most Recent Resources

• Modern Entertainment Guides & UIs: Data-Driven Gateways to Conten..
• The New Normal for Promoting Tune-in
• Achieving Operational Freedom in Digital Media Workflows