CBS Sets 3Q Earnings Records, Fall Just Short of Revenue Expectations

  • The Wrap
CBS Corporation set several third-quarter earnings records but fell just short of revenue expectations. Company CEO Les Moonves said on a conference call with reporters and investors Wednesday that the company would look for opportunities to buy back stock and increase dividend payments. He also acknowledged lower network ratings this fall by saying they were "all over the place" for most networks, but said that the numbers were "atypical." NBC is the only network up overall this season. Moonves said CBS's ratings would improve, thanks in part to the Super Bowl.
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