Sports, Retrans Drives CBS Best Quarter Ever - Broadcasting & Cable

Sports, Retrans Drives CBS Best Quarter Ever

Ad revenue up 8%; retrans rises 62%
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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.

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