(MENAFN) CBS Corporation announced that profit hiked 80 percent in the first quarter to USD363 million, compared with USD202 million a year earlier, reported Gulf News.
The New York-based firm said that revenue increased 12 percent to USD3.92 billion, including an after-tax USD16 million gain from early retirement of debt and an after-tax impairment expense of USD14 million.
It added that advertising sales at the network rose 8 percent in the period, while TV station revenue was up 2 percent and revenue from the outdoor billboard unit inched up 1 percent, however, revenue from the radio station dropped by 2 percent.
It is worth noting that money from syndication, the sale of reruns to other broadcast and cable programmers, surged 39 percent in the quarter.
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