News Summary: CBS 4Q tops views on TV show sales
CBS BEATS: CBS Corp. reported fourth-quarter earnings and revenue growth that beat Wall Street expectations as advertising revenue was flat but content licensing grew thanks to the sale of shows such as "Hawaii Five-O" for domestic reruns.
THE NUMBERS: Net income in the three months through Dec. 31 rose to $470 million, or 76 cents per share, from $393 million, or 60 cents per share, a year earlier. Excluding restructuring charges, adjusted earnings came to 78 cents per share, beating the 76 cents expected by analysts polled by FactSet. Revenue grew 6 percent to $3.91 billion from $3.7 billion a year earlier, and topped the $3.82 billion analysts expected.
SHARE ACTION: Investors cheered the upbeat news, sending shares up $2.80, or 4.5 percent, to $64.65 in after-hours trading.