NEW YORK (TheStreet) -- CBS (CBS) shares are up 1.01% to $61.52 in early market trading on Friday following the release of the media company's first-quarter earnings results before the opening bell today.
The New York City-based television and radio network reported first-quarter earnings of $394 million, or 78 cents per share, a one-cent increase from the year-ago period that topped analysts' expectations of 75 cents per share.
Revenue for the period decreased by 2% to $3.5 billion but was still able to beat analysts' $3.46 billion consensus estimate.
The network is expected to finish first among broadcast networks in total viewers for the seventh consecutive television season, according to the Los Angeles Times.
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."
Highlights from the analysis by TheStreet Ratings Team goes as follows: