Net earnings from continuing operations declined year-over-year to $418 million from $435 million, while adjusted earnings were 78 cents a share. Revenue declined 5% year-over-year to $3.19 billion from $3.37 billion. Analysts polled by Thomson Reuters had expected EPS of 71 cents on revenue of $3.24 billion.
The stock was up 3.8% to $59.06 at 11:39 a.m.
Must Read: Warren Buffett's 25 Favorite StocksEXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE. Separately, TheStreet Ratings team rates CBS CORP as a "buy" with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation: "We rate CBS CORP (CBS) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, notable return on equity, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow." You can view the full analysis from the report here: CBS Ratings Report CBS data by YCharts
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE.