CBS on Wednesday reported record third-quarter of $391 million compared with $338 million a year ago. Revenue rose 2 percent to $3.42 billion, also a record.
For its financial growth, CBS credited an 8 percent increase in content licensing and distribution fees.
Still, advertising revenue at the company's "entertainment" division, which includes the CBS Television Network and CBS Television Studios, fell compared to last year due to the effect of the Summer Olympics and pre-emptions of shows because of coverage of the Republican and Democratic national conventions.
More to come.
- CBS Television Network
- CBS Television Studios