CBS misses quarterly revenue estimates

This post was originally published on this site
© Reuters. The CBS Television Center is seen in Los Angeles© Reuters. The CBS Television Center is seen in Los Angeles

(Reuters) – CBS Corp (N:) missed Wall Street estimates for quarterly revenue on Tuesday, sending its shares down nearly 2% in premarket trading.

The media company reported a net earnings of $319 million, or 85 cents per share, in the third quarter ended Sept. 30, down from $488 million or $1.29 per share, a year earlier.

CBS posted a 1% rise in revenue to $3.30 billion, but missed analysts’ average estimate of $3.36 billion, according to IBES data from Refinitiv.

(This story corrects headline and paragraph 3 to remove reference to MTV).

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.