CBS Corporation (CBS – Analyst Report) reported first-quarter 2015 earnings per share from continuing operations of 78 cents that topped the Zacks Consensus Estimate of 75 cents.
CBS Corporation – Earnings Surprise | FindTheCompany
However, total revenue fell 2% to $3,500 million and missed the Zacks Consensus Estimate of $3,502 million due to weakness across board. Advertising revenues fell 4.8% to $1,784 million due to fewer NFL games and lower revenues at the Local Broadcasting segment. Content licensing and distribution revenues fell 4.2% to $1,028 million. Nearly an 11% growth in affiliate and subscription revenues to $628 million could not provide much relief.
