CBS first-quarter earnings fall 6%
CBS Corp., producer of “60 Minutes” and the hit crime series “CSI,” said Thursday that its first-quarter earnings fell 6%, hurt by the sale of radio stations and lower syndicated TV income.
CBS, which also operates outdoor advertising and publishing units, said net income fell to $213.5 million, or 28 cents a share, from $226.9 million, or 30 cents, a year earlier.
The latest quarter included a tax charge related to the sale of some radio stations. Excluding items, earnings rose 8% to $253.6 million, or 33 cents a share, beating by a penny estimates on Wall Street, according to Thomson Financial.
CBS, which split from Viacom Inc. in early 2006, said revenue rose 2% to $3.66 billion.
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