CBS Profits Outperform Expectations, but Hurt by Fewer NFL games

CBS (CBS) reports better profits than expected as revenue from its affiliates and subscription fees rose. However, the owner of the most watched TV network did see revenue fall 2 percent as the company telecast one less NFL playoff game compared to the previous year. Apart from the broadcast network, CBS also owns cable channels Showtime and CBS Sports Network, as well as radio stations and Simon & Schuster Publishing. The company's net income from continuing operations fell to $394 million from $462 million in the year prior. Earnings of 78 cents a share were better than the 75 cents expected by analysts.