Sports, Retrans Drives CBS Best Quarter EverAd revenue up 8%; retrans rises 62% 5/01/2013 04:28:28 PM Eastern
Sports programming and a big boost in retransmission consent and affiliate fees helped drive CBS to its best quarterly results ever, with revenue up 6% to $4.04 billion.
Advertising revenue rose 8% in the quarter to $2.4 billion, driven by Super Bowl XLVII on the CBS broadcast network. Affiliate and subscription fee revenue rose 14%, driven by a 62% rise in retransmission consent fees and growth at its cable networks.
Operating income before depreciation and amortization rose 15% to $916 million and net earnings of $463 million (73 cents per share) were 17.5% better than the $394 million (59 cents per share) tallied last year.