CBS Corp. (CBS) posted third quarter net income of $207.6 million, compared to a net loss of $12.46 billion in the same quarter last year. Earnings per share for the period were $0.30, compared to a loss of $18.58 per share in last year period.
On average, 21 analysts polled by Thomson Reuters expected the company to report earnings of $0.22 per share. Analysts' estimates typically exclude special items.
Revenues for the quarter totaled $3.35 billion, compared to $3.38 billion in the prior-year quarter. Sixteen Wall Street analysts expected revenues of $3.19 billion.
Results for the third quarter of 2009 included a pre-tax non-cash impairment charge of $31.7 million and results for 2008 included pre-tax non-cash impairment charges of $14.12 billion.
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