socialmedian: CBS Swings To Profit; Interactive Revs Drop 14 Percent

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CBS Swings To Profit; Interactive Revs Drop 14 Percent

Source: paidContent.org

Nov 05, 2009

Summary

CBS’ earnings were on the positive side in Q3, as revenues were down less than 1 percent, an indication that the economic pain of the past year may be easing a bit. While that may have been the case overall, CBS Interactive (NYSE: CBS) struggled in Q3, as revenues were down about 14 percent to $121.3 million. Separately, the network also received three-year $2 billion revolving credit facility.announced it received a $2 billion revolving credit facility. It replaces the CBS’ previous, undrawn, revolving credit facility that was scheduled to expire in December 2010. The company will use the funds to for general business purposes. More to come

Earnings release | Webcast (4:30 PM ET)