CBS Profits And TV Income Up
CBS Corp. boosted profit 8.3% to $343.3 million as growth at its publishing and billboard businesses overcame weakness at its radio unit. The television division posted a 4% rise in operating profit.
Net income for the third quarter came in at .48 cents a share compared with 41 cents a share, or $316.9 million a year ago. Revenue dropped 2.9% to $3.28 billion, reflecting lower television license fees, the absence of the UPN network on the books and the impact of divestitures of TV and radio stations, CBS said in a statement Thursday.