CBS and News Corp beat Wall Street expectations on the bottom line but advertising revenue declined for both companies. CBS posted profits of $0.78 a share, beating forecasts by three cents. Revenue came in at $3.86 billion, slightly missing analysts’ expectations. News Corp surprised to the upside on both the top and the bottom line with earnings $0.11 a share on $2.08 billion in revenues. In afterhours trading, CBS shares were down 2 percent. News Corp was flat after closing up more than a tenth of a percent.
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