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02-16-2011, 07:39 PM
CHICAGO (MarketWatch) -- CBS Corp. . said Wednesday that its fourth-quarter profit more than quadrupled against a quarter that included several items a year earlier, as the mass media conglomerate benefited from an industry-wide rebound in advertising sales. CBS said it earned $283 million, or 41 cents a share, compared with a profit of $59 million, or 9 cents a share, in the fourth quarter of 2009. Excluding items in the latest three months, CBS said it would have earned 46 cents a share. Revenue rose to $3.9 billion from $3.5 billion. Analysts polled by FactSet Research were expecting a profit of 43 cents a share on sales of $3.86 billion. CBS Chief Executive Les Moonves commented in a statement that the company continues to see "robust" ad sales trends at the CBS network and "very strong" commercial time sales at its television stations in the first quarter.
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