CBS tops estimates as licensing business grows [Reuters]
CBS (CBS)
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Source: Reuters
CBS tops estimates as licensing business grows | Reuters 3 Min Read (Reuters) - CBS Corp ( CBS.N ) topped Wall Street’s quarterly revenue and profit estimates on Thursday as U.S. and international distributors licensed more of its shows. The owner of the most-watched U.S. TV network said it also expects high single-digit revenue growth for 2018 and earnings per share growth in the high teens, ahead of Wall Street’s average estimates. The company’s shares were slightly higher in after-hours trading. CBS, whose shows include “Big Bang Theory” and “NCIS,” has focused on diversifying its revenue away from advertising as many brands shift spending online from TV. Advertising accounted for 44 percent of its revenue in the quarter, compared to 51 percent a year ago. The company said it now has nearly 5 million subscribers for its CBS All Access and Showtime online streaming services. Its goal is to have 8 million subscribers of the two services by 2020. The New York-based media company bea
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