NEW YORK (TheStreet) -- Shares of CBS Corp (CBS) are rising, up 1.39% to $62.07 in after-hours trading Thursday, following the release of the media company's quarterly financial results that beat estimates on both the top and bottom line.
For the first quarter, CBS posted earnings of 78 cents per share on revenue of $3.5 billion.
The consensus estimate called for earnings of 75 cents a share on $3.45 billion in revenue, according to analysts surveyed by Thomson Reuters.
About 4.31 million shares of CBS exchanged hands as of 4:07 p.m. ET today, compared to its average trading volume of about 3.82 million shares a day.
New York City-based CBS is a mass media company with operations in various segments including entertainment, cable networks, publishing, local broadcasting and outdoor advertising.
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 a number of strengths, 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 revenue growth, notable return on equity, good cash flow from operations, increase in stock price during the past year and growth in earnings per share. We feel these strengths outweigh the fact that the company has had sub par growth in net income."