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CBS Corporation Falls Despite Q2 Earnings And Revenue Beats

CBS Corporation (CBS - Free Report) released its second quarter fiscal 2017 earnings results, posting earnings of $1.04 per share and revenue of $3.26 billion. Currently, CBS has a Zacks Rank #3 (Hold), and it is down 0.11% to $64.45 in after-hours trading shortly after its earnings report was released.


Beat earnings estimates.The company posted adjusted earnings of $1.04 cents per share, after excluding $0.90 for non-recurring items, beating our Zacks Consensus Estimate of $0.97. CBS earnings grew 12% year-over-year.

Beat revenue estimates.The company saw revenue figures of $3.26 billion, beating our estimate of $3.11 billion. Revenue increased year-over-year by 9%.

CBS affiliate and subscription fee revenues were up 16%, driven by a 25% increase in retransmission revenues and fees from CBS Television Network affiliated stations, as well as subscriber growth for its...