CBS Earnings: Here’s Why Shares are Up Now
CBS Corporation (NYSE:CBS) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.51%.
CBS Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 35.19% to $0.73 in the quarter versus EPS of $0.54 in the year-earlier quarter.
Revenue: Rose 2.96% to $4.04 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: CBS Corporation reported adjusted EPS income of $0.73 per share. By that measure, the company beat the mean analyst estimate of $0.68. It beat the average revenue estimate of $4.02 billion.
Quoting Management: “CBS has started the year with a terrific first quarter,” said Sumner Redstone, Executive Chairman, CBS Corporation. “Our premium content and multiplatform distribution strategy are leading to results that are better than ever. I am confident that this approach, under the guidance of Leslie and his team, will continue to propel CBS ahead in the years to come.”
Key Stats (on next page)…
Revenue increased 23.51% from $3.27 billion in the previous quarter. EPS increased 14.06% from $0.64 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.74 to a profit $0.75. For the current year, the average estimate has moved up from a profit of $2.92 to a profit of $3.00 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)