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Thursday, February 19, 2009

CBS earnings

feb.18 :Rose over 8% CBS shares closed on $5.13 after the television network posted its fourth quarter profit of 34% per share. That surpassed the 25% avg. analyst expectations.
Television revenue fell 8%, radio revenue fell 18%, and revenue from outdoor advertising fell over 15%. The rest of the revenue comes from areas like cable fees and publishing.
Seeking to preserve cash amid the troubled economy and slowdown in advertising sales, CBS corp. on Wednesday slashed its dividend paymnt to investors and reported a 52% drop in net income

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