CBS Corporation Reports Third Quarter EPS of $.35

CBS Corporation CBS today reported results for the third quarter ended September 30, 2010. Revenues were $3.30 billion for the third quarter of 2010 versus $3.35 billion for the same quarter last year, when the company benefited from first-cycle domestic syndication sales of five major titles. Underlying revenue growth, driven by 10% growth in advertising and 15% growth in affiliate and subscription fees, was more than offset by the absence of these sales, resulting in a 2% decline in revenues during the quarter Adjusted net earnings of $245.2 million for the third quarter of 2010 increased 42% from $172.3 million for the same quarter last year, and adjusted diluted earnings per share of $.35 increased 40% from $.25.