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CBS' Second Quarter Earnings Report
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CBS (NYSE:CBS) announced its results for the most recent quarter on August 2, 2012. CBS is a mass media company with operations in entertainment, cable networks, publishing, local broadcasting, and radio.
Earnings season is important to investors because it shows how much profit is left in the company's hand after deducting costs from revenue. SEE: Everything Investors Need To Know About Earnings
The Numbers: CBS' EPS outpaced analyst estimates while the company's revenues came in below predictions. The company reported 65 cents per share versus the 58 cents per share estimate and revenues of $3.48 billion versus the $3.78 billion estimate. EPS rose 12.1% while revenue declined 3.1% from the same period last year. CBS saw falling revenues last quarter after rising 11.8% to $3.92 billion the quarter before. For the second quarter, the company reported net income of $427 million. According to the reported number, this is up 8.1% from last year's figures. Last quarter marked the third in a row of rising net income.
Management Quote: CBS's content continues to fuel the success of this great company," said Sumner Redstone, Executive Chairman, CBS Corporation. "In a world where great programming commands premium pricing, we continue to hit on all cylinders. I am extremely pleased with our terrific second-quarter results, and I am confident that Leslie and his management team will build on our momentum in the quarters and years to come."
A Look Back: Net income has increased 57.6% year-over-year on average across the last five quarters. The biggest gain came in the second quarter of the last fiscal year, when income climbed more than twofold from the year-earlier quarter.
Looking Ahead: Expectations for the company's next-quarter performance are more favorable than they were a month ago. The average estimate for the third quarter is now at 63 cents per share, up from 63 cents. When analyst increase earnings estimates investors can assume business has been stronger than first thought and is an encouraging sign for investors. Over the past three months, the average estimate for the fiscal year has climbed from $2.36 per to share to $2.50.
Earnings season is important to investors because it shows how much profit is left in the company's hand after deducting costs from revenue. SEE: Everything Investors Need To Know About Earnings
The Numbers: CBS' EPS outpaced analyst estimates while the company's revenues came in below predictions. The company reported 65 cents per share versus the 58 cents per share estimate and revenues of $3.48 billion versus the $3.78 billion estimate. EPS rose 12.1% while revenue declined 3.1% from the same period last year. CBS saw falling revenues last quarter after rising 11.8% to $3.92 billion the quarter before. For the second quarter, the company reported net income of $427 million. According to the reported number, this is up 8.1% from last year's figures. Last quarter marked the third in a row of rising net income.
Management Quote: CBS's content continues to fuel the success of this great company," said Sumner Redstone, Executive Chairman, CBS Corporation. "In a world where great programming commands premium pricing, we continue to hit on all cylinders. I am extremely pleased with our terrific second-quarter results, and I am confident that Leslie and his management team will build on our momentum in the quarters and years to come."
A Look Back: Net income has increased 57.6% year-over-year on average across the last five quarters. The biggest gain came in the second quarter of the last fiscal year, when income climbed more than twofold from the year-earlier quarter.
Looking Ahead: Expectations for the company's next-quarter performance are more favorable than they were a month ago. The average estimate for the third quarter is now at 63 cents per share, up from 63 cents. When analyst increase earnings estimates investors can assume business has been stronger than first thought and is an encouraging sign for investors. Over the past three months, the average estimate for the fiscal year has climbed from $2.36 per to share to $2.50.
by
Investopedia Staff
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