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Media Giant Beats Q4 Estimates, Helped by Boost in Ad Revenue

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Media Giant Beats Q4 Estimates, Helped by Boost in Ad Revenue

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Shares of mass media giant CBS Corp (CBS) are higher in after-hours trading on Thursday, after reporting a slight beat on fourth quarter earnings. The broadcasting company posted earnings and revenue above analysts’ expectations. CBS said it got a boost in ad revenues from its broadcast of Thursday Night Football. The company also said it had more gains from political revenue during the midterm elections. Plus, the company announced that it would be increasing the pace of its share buyback program, as it targets repurchases of $1 billion in stock. TheStreet’s, Kurumi Fukushima reports in New York.

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