CBS Sets New Company Records in Quarterly Revenue and Earnings for Q1
Company plans to invest $8 million in content during 2019.
In its first quarter 2019 financials released on May 2, CBS (NYSE: CBS, CBS.A) reported its best quarter ever in terms of revenue and Q1 records in adjusted operating income and adjusted diluted earnings per share. Total revenue for Q1 was $4.17 billion, an 11% increase year-over-year. Adjusted operating income was $793 million, a 2% increase year-over-year. Though an increase, this was offset by higher costs for premium content, including the number of owned series and higher investments into the growth and expansion of the company’s direct-to-consumer streaming service.
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