Investing
Building An Interactive Business Does Not Help CBS (CBS) Earnings
Published:
Last Updated:
Buying online content company CNET and building out internet sites for its legacy properties was supposed to help earnings at CBS (CBS). At least the company would have something to balance its huge, old-world TV and ratio operation. But, it hasn’t worked. Things are so bad CBS even had to cut its dividend.
After hours, CBS announced earnings for the last quarter of 2008. Revenue fell 7% to $3.5 billion compared to the same quarter last year. The purchase of CNET helped the topline which is actually bad news. Without it, the rest of the company would have been hammered. But, buying revenue is not a solution.
In the quarter, operating income for the company fell 49% to $362 million. Of that, $272 million was from TV and $71 million was from radio. Interactive was a pathetic $29 million. Even outdoor advertising did better.
CBS’s quarterly dividend went from $.27 to $.05.
Douglas A. McIntyre
Smart Investors Are Quietly Loading Up on These “Dividend Legends” (Sponsored)
If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.
Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
