CBS Beat Profit Estimates

By Trey WilliamsMarketWatch Pulse

CBS Corp. reported second-quarter net profit of $332 million, or 67 cents per share, compared with $439 million, or 76 cents per share in the year-earlier period. Adjusted net earnings from continuing operations of $365 million, or 74 cents per share, compared with $418 million, or 72 cents a share, in the same period a year ago. Adjusted results included restructuring charges of $55 million, which were related to the company's radio and TV operations. The FactSet consensus was for per-share earnings consensus of 72 cents. The company said revenue was $3.22 billion, compared with $3.19 billion during the year prior period. FactSet consensus on revenue was $3.21 billion. CBS shares were down 0.44% in after hours trade.

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