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Variety

CBS Posts Record Revenues and Profits

Aug 2, 2018  •  Post A Comment

For a company that’s supposedly in crisis, CBS Corp. seems to be keeping its head above water. Even as the fate of company CEO Leslie Moonves hangs in the balance pending an investigation into allegations of sexual impropriety, the company today reported record-high revenues and profits for the second quarter.

“The company reported revenue of $3.47 billion, up 6% year-over-year, and net earnings of $400 million (up 1%), or adjusted earnings per diluted share of $1.12,” Variety reports. “Wall Street analysts on average expected the company to post EPS of $1.11 on revenue of $3.46 billion.”

Variety adds: “In CBS’s Q2 earnings release, Moonves did not address the allegations. On the earnings call, a CBS investor-relations rep instructed analysts that questions would be ‘limited in scope’ to the second-quarter results — indicating Moonves would not take questions about the harassment accusations or the ongoing legal spat with Shari Redstone’s National Amusements for control of CBS.”

The company’s ad revenue was $1.33 billion in the quarter, an increase of 2.2% year-over-year, Variety notes.

2 Comments

  1. Interesting that this is on the same page as the Weinstein story link. How is Moonves any different from Wienstein?

  2. CBS is Les and Les is CBS.

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