UPDATE: CBS Posts Downbeat Q4 Profit

CBS CBS reported a 6.2% rise in its fourth-quarter profit. CBS posted its quarterly profit at $393 million, or $0.60 per share, versus $370 million, or $0.55 per share, in the year-ago period. Excluding one-time items, it earned $0.64 per share. Its revenue climbed 2.4% to $3.7 billion. However, analysts were expecting earnings of $0.68 per share on revenue of $3.78 billion. CBS shares fell 1.28% to $42.39 in after-hours trading.