CBS Reports Strong Q4 Revenue and Earnings

CBS Corporation CBS CBS reported financial results Thursday for the fourth quarter of 2014.

Revenue came in at $3.68 billion for the fourth quarter and were up 3 percent from $3.57 billion for the same quarter in 2013.

Net earnings per diluted share grew 8 percent, to $0.77, from adjusted net earnings from continuing operations per diluted share of $0.71 for the prior-year period.

Net earnings from continuing operations were $402 million compared with adjusted net earnings from continuing operations of $434 million for the same prior-year period.

Operating income was $707 million compared with $715 million for the same prior-year period.

Revenue increased across all segments except publishing which reported revenue of $215 million versus $225 million reported in the fourth quarter of 2013.

“We repurchased $800 million of CBS stock during the fourth quarter -- double what we did in the third -- and we plan to pick up the pace even more here in the first quarter with a target of $1 billion. Thanks to our continued investment in world-class content and our strong financial position, we are well poised for future growth,” said Leslie Moonves, President and Chief Executive Officer.

CBS Corporation traded at $59.50 in the after hours session, up 2.99 percent.