{"id":23604,"date":"2014-05-27T08:38:49","date_gmt":"2014-05-27T12:38:49","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=23604"},"modified":"2014-05-27T08:38:49","modified_gmt":"2014-05-27T12:38:49","slug":"cbs-corporation-nysecbs-reports-year-over-year-growth","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/cbs-corporation-nysecbs-reports-year-over-year-growth-23604","title":{"rendered":"CBS Corporation (NYSE:CBS) Reports Year Over Year Growth"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 05\/27\/2014 (wallstreetpr) \u2013 \u00a0<strong>CBS Corporation (NYSE:CBS)<\/strong>\u00a0reported its first quarter revenue of $3.86 billion compared to $4.04 billion in the same period 2013. The 5% YoY decrease was due to the broadcast of two additional programs (Super Bowl and Basketball Championship) during 2013.<\/p>\n<p style=\"text-align: justify;\"><b>Content Group<\/b><\/p>\n<p style=\"text-align: justify;\">Higher licensing of television programming fees drove the content licensing and distribution revenues by 6% that compensated the incurring loss from the additional programs.<\/p>\n<p style=\"text-align: justify;\">Subscription fee and affiliate revenues increased by 9% due to higher cable affiliate fees and increasing fees from the affiliated television stations that raised the Cable Network segment\u2019s revenues by 12% to $537 million (1Q2013: 478 million).<\/p>\n<p style=\"text-align: justify;\">The Publishing segment was down by 11% to $153 million versus $171 million, but, the digital sales continue to drive the segment sales.<\/p>\n<p style=\"text-align: justify;\">The increase in licensing revenue and higher cable fees improved the Content Group\u2019s operating income before depreciation and amortization (OIBDA) with a contribution from Entertainment ($457 million), Cable ($259 million) and Publishing ($13 million).<\/p>\n<p style=\"text-align: justify;\"><b>Local Broadcasting <\/b><\/p>\n<p style=\"text-align: justify;\">The negative impact of additional programs in 2013 continues to challenge CBS Corporation (NYSE:CBS)\u2019s Local Broadcasting segment, which was down by 2% to $626 million (1Q2013: $638 million), partly offset by an increase in redistribution revenue and CBS Radio\u2019s revenue. Lower programming costs were further offset the declining revenues and reported segment OIBDA $200 million (+1%).<\/p>\n<p style=\"text-align: justify;\"><b>CBS Outdoor<\/b><\/p>\n<p style=\"text-align: justify;\">CBS Outdoor revenues were up by 4% at constant currency to $288 million due to an increase in billboard and transit businesses in the U.S. and growth in Canada. But, the incremental costs compressed the CNS Outdoor\u2019s OIBDA by 7% to $69 million.<\/p>\n<p style=\"text-align: justify;\"><b>Conclusion<\/b><\/p>\n<p style=\"text-align: justify;\">The increasing high margin revenue improved CBS\u2019 overall OIBDA to $930 million (1Q2013: $921 million) and net earnings to $468 million with diluted EPS of $0.78 ($463 million or $0.73 per share).<\/p>\n<p style=\"text-align: justify;\">As a result, CBS generated lower operating cash flow of $521 million (1Q2013: $610 million) and capital expenditure of $36 million, resulting to free cash flow of $485 million in 1Q2014 (1Q2013: $576 million).<\/p>\n<p style=\"text-align: justify;\">CBS Corporation (NYSE:CBS)\u00a0repurchased 31.4 million shares for $2 billion during the first quarter and offset by $1.6 billion of cash received from CBS Outdoor borrowings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 05\/27\/2014 (wallstreetpr) \u2013 \u00a0CBS Corporation (NYSE:CBS)\u00a0reported its first quarter revenue of $3.86 billion compared to $4.04 billion in the same period 2013. The [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":23612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[1903,1904],"stock_ticker":[],"class_list":["post-23604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-cbs-corporation-nysecbs","tag-nysecbs","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CBS Corporation (NYSE:CBS) Reports Year Over Year Growth - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/cbs-corporation-nysecbs-reports-year-over-year-growth-23604\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBS Corporation (NYSE:CBS) Reports Year Over Year Growth - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"Boston, MA 05\/27\/2014 (wallstreetpr) \u2013 \u00a0CBS Corporation (NYSE:CBS)\u00a0reported its first quarter revenue of $3.86 billion compared to $4.04 billion in the same period 2013. 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