CBS Credits Digital Initiatives and Subscriptions for Record Q3 Revenue
Digital initiatives, including streaming subscription services, grew 79 percent in the third quarter.
Despite the abrupt departure of CBS chairman, president and CEO Leslie Moonves, CBS Corporation (NYSE: CBS.A and CBS) reported record revenues and earnings in the third quarter of 2018. CBS had record revenue of $3.26 billion, a 3 percent increase over the same period last year. The company credits its record revenue, in part, to 79 percent growth in its digital initiatives, including its streaming video subscription services CBS All Access and Showtime, and retransmission revenue and fees from CBS Television Network affiliates.
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