CBS profit drops 85 pct on tax charge [Reuters]
CBS (CBS)
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Source: Reuters
CBS profit drops 85 percent on tax charge | Reuters Reuters Staff 1 Min Read (Reuters) - Media company CBS Corp ( CBS.N ), which is exploring a merger with Viacom Inc ( VIAB.O ), 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. 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. CBS, home to popular shows such as “Big Bang Theory” and “NCIS”, said revenue rose 11.5 percent to $3.92 billion. Reporting by Munsif Vengattil in Bengaluru; Editing by Sriraj Kalluvila All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. Š 2018 Reuters. All Rights Reserved. CBS profit drops 85 percent on tax charge (Reuters) - Media company CBS Corp ( CBS.N ), which
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