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CBS 2Q beats Street as dispute goes on

August 1, 2013 • Business, Entertainment


FILE – In this Jan. 9, 2007 file photo, a CBS Corp. logo is silhouetted in Las Vegas. CBS reports its quarterly earnings on Wednesday, July 31, 2013. (AP Photo/Jae C. Hong, File)

LOS ANGELES (AP) — CBS Corp. said Wednesday that net income rose 11 percent in the latest quarter, beating the expectations of analysts as the company continues to benefit from the types of fees that are at the center of a dispute with one of its key cable TV distributors.

Second-quarter net income grew to $472 million, or 76 cents per share. That’s up from $427 million, or 65 cents per share, a year ago.

Revenue rose 11 percent to $3.7 billion.

Analysts polled by FactSet had expected 72 cents per share of earnings on revenue of $3.51 billion.

Shares edged up 34 cents to $53.18 in after-hours trading.

The broadcaster benefited from licensing its shows to online streaming providers such as Login to read more

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