CBS Sees Q3 Profit Drop on Increased Investment in Programming

Variety | 11/12/2019 | Brian Steinberg
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CBS Corp. said third quarter profit dropped as investments in new series for its linear and digital outlets and costs associated with its pending merger with Viacom Inc. overcame increases in revenue during the period.

CBS said third-quarter net income came to $319 million, or 85 cents a share, compared with $488 million, or $1.29 a share, in the year-earlier period. CBS’ adjusted profit, came to 95 cents...
(Excerpt) Read more at: Variety
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