CBS wrap: Profit beat, accelerated share buyback, Outdoor spinoff

CBS (CBS) says content licensing and distribution revenue rose 28% in Q4 to help it overcome softer trends with advertising.

Segment OIBDA: Entertainment +27% to $418M; Cable Networks +7.6% to $199M; Local Broadcasting -19% to $263M; Outdoor Americas +28% to $120M.

The company announces plans for a $1.5B accelerated share repurchase program. On top of an existing program, CBS plans to spend $2B to buy shares in Q1.

The IPO of Outdoor is planned for Q1 after which CBS says it will be closer to a "pure content" company.

CBS +3.1% AH.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs