Telecom Signaling Industry News

TMCNet:  CBS posts 15.7% profit increase in third quarter

[November 07, 2012]

CBS posts 15.7% profit increase in third quarter

Nov 07, 2012 (Los Angeles Times - McClatchy-Tribune Information Services via COMTEX) -- Higher fees for programming boosted broadcasting giant CBS Corp. to a solid third quarter with 15.7% growth in profit.

For the period that ended Sept. 30, the company reported net earnings of $391 million, or 60 cents a share, up from $338 million, or 50 cents a share, during the third quarter of 2011.

The earnings matched Wall Street analysts' forecasts.

"CBS is keeping its streak with another quarter of record-breaking results," Chief Executive Leslie Moonves said Wednesday in a conference call with analysts.

Revenue increased 2% to $3.42 billion compared with a year earlier. The growth largely came from an 8% increase in content licensing and distribution revenue, CBS said Wednesday.

Cable TV subscription revenue grew 12%, also reflecting higher fees and an increase in subscribers. CBS Corp. owns a cable sports network and premium channel Showtime in addition to the flagship CBS broadcast network, TV and radio stations, and the Simon & Schuster publishing house.

Wall Street analysts who view CBS as a bellwether for advertising spending might be disappointed. Advertising revenue for the New York media behemoth slipped 3%.

Nearly 60% of the company's revenue comes from advertising.

The CBS network had a bit of a tough quarter as it struggled to compete with rival NBC, which was flying high with its broadcasts of the London Olympics. CBS also blamed the Republican and Democratic national conventions, which took place over six nights in August and September, for a dip in ad revenue.

However, the company's fourth quarter should benefit from the bounty of political ad dollars in the presidential election. CBS, however, owns few TV stations in the key battleground states of Ohio, Colorado, Virginia and Nevada -- where advertising was especially heavy -- which could depress its overall haul.

___ (c)2012 the Los Angeles Times Visit the Los Angeles Times at Distributed by MCT Information Services

[ Back To Telecom Signaling's Homepage ]

Featured Events

5G NA Signaling Day

November 14-16, 2016
Sheraton Dallas, Dallas, TX

Featured Webcasts

Securing The Signaling Interconnect: Oracle's Perspective On Recent Security Events

Today's telecommunications landscape is changing rapidly, and the "institution" of trust between networks that has been assumed over the decades is no longer relevant. We are now hearing of vulnerabilities in CSP interconnection points that have been known ...

Applications of Wi-Fi Calling

With all of the discussion about faster data access and richer content, it could be assumed that voice services no longer play an important role in the business model of the communications service provider. Join ReThink Technologies Research and Oracle Communications as we explore ...

Featured Whitepapers

Oracle Communications Diameter Signaling Router Main Differentiators

Diameter is the protocol used by network elements in LTE and 3G networks to enable and monetize services, such as voice, video and data. Diameter enables revenue-generating data services; including tiered data plans, loyalty programs, application specific QoS, content provider and Internet of Things (IoT) solutions ...

Multi-Layer Security Protection for Signaling Networks

The sanctity of mobile operators' networks and brands will depend greatly on their ability to deliver QoS guarantees to roaming and interconnect partners, while simultaneously protecting increasingly multimedia-savvy and socially connected ...

Featured Datasheets

Oracle Communications Diameter Signaling Router

Centralizing Diameter routing with cloud deployable Oracle Communications Diameter Signaling Router creates a secure signaling architecture that reduces the cost and complexity of the core network and enables elastic growth, interoperability and rapid introduction ...

Oracle Communications Mobile Security Gateway

The Oracle Communications Mobile Security Gateway is a high performance gateway that allows the Communications Service Provider (CSP) to cost effectively expand network coverage and increase capacity by incorporating Heterogeneous ...

Oracle Communications Evolved Communications Application Server

As service providers drive their networks toward an all-IP and virtualized state, they require the means to design and deliver compelling high definition voice, video and multimedia offers via Voice over LTE (VoLTE) and Voice over WiFi (VoWiFi) ...

Featured Infographic