CBS profit drops 85% on tax charge [FOX Business Network]
CBS (CBS)
Last cbs earnings: 11/12 08:00 am
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Source: FOX Business Network
Media company CBS Corp ( CBS ), which is exploring a merger with Viacom Inc ( VIAB ), on Thursday reported a 85.2 percent drop in quarterly profit, largely due to a $129 million charge related to the recent changes in the U.S. tax law. Continue Reading Below The owner of the most watched U.S. television network reported net income from continuing operations of $40 million, or 10 cents per share, in the fourth quarter ended Dec. 31, down from $271 million, or 63 cents per share, a year earlier. More from FOX Business CBS, home to popular shows such as “Big Bang Theory” and “NCIS”, said revenue rose 11.5 percent to $3.92 billion.
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