Investing.com - CBS Corporation's (NYSE:CBS) second quarter earnings met analysts expectations while its revenue surpassed, thanks in part to increased subscriptions for the company's Showtime streaming service.
CBS's net income came in at 97 cents per share on sales of $3.26 billion, up from 82 cents a share on revenue of $2.98 billion in the comparable quarter. Analysts were looking for adjusted earnings of 97 cents per share on revenue of $3.1 billion
CBS Chief Executive Leslie Moonves noted that the new "Twin Peaks" show "boosted OTT subscriptions dramatically" for the Showtime streaming service, and the company said ad revenues were helped by the semifinals and finals of the NCAA men's basketball championships.