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CBS beats expectations but first-quarter revenue falls 4%
CBS beats expectations but first-quarter revenue falls 4%

CBS Corp. turned in record first-quarter earnings, surpassing analysts' expectations. However, revenue slipped at the broadcasting giant. CBS had a tough comparison because the year-earlier period was boosted by CBS' broadcast of the Super Bowl, which added $280 million in revenue to the company's top line. But this year, the Super Bowl ran on Fox, not CBS. "We had a very strong revenue quarter given that we were competing against the Super Bowl. If not for that, our revenue would have been a record," CBS Chief Executive Leslie Moonves told analysts Thursday on an earnings conference call. "We have begun 2014 in very good shape." For the quarter ended...

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