CBS Touts Success of Subscription Products in Q2 Report
Stock dips in response to allegations of sexual misconduct by chair and CEO Les Moonves.
Amidst allegations of sexual misconduct by CBS chairman and CEO Les Moonves, CBS Corporation (NYSE: CBS.A and CBS) reported $3.47 billion in revenue, a 6 percent increase year-over-year. The company also reported net earnings from continuing operations of $400 million, or $1.05 diluted earnings per share. In an August 2 news release, Moonves said streaming video services CBS All Access and Showtime OTT are exceeding the company’s expectations.
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