- Last Updated: 1:51 AM, August 3, 2012
- Posted: 11:16 PM, August 2, 2012
CBS Corp., owner of the most-watched television network, said second-quarter profit increased 8.1 percent as the company held down costs even as advertising sales slipped.
Net income climbed to $427 million, or 65 cents a share, from $395 million, or 58 cents, a year ago, CBS said. That beat the 59-cent average of 28 analysts’ estimates compiled by Bloomberg.
CBS shares closed little changed at $33.05
Sales fell 3 percent to $3.48 billion, below estimates.