CBS: 3Q Earnings Snapshot

NEW YORK (AP) _ CBS Corp. (CBS) on Thursday reported third-quarter net income of $488 million.

On a per-share basis, the New York-based company said it had profit of $1.29. Earnings, adjusted for pretax gains, were $1.24 per share.

The results topped Wall Street expectations. The average estimate of 28 analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.

The media company posted revenue of $3.26 billion in the period, also topping Street forecasts. Twenty-eight analysts surveyed by Zacks expected $3.25 billion.

CBS shares have dropped almost 1 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 2 percent. In the final minutes of trading on Thursday, shares hit $58.49, an increase of 4 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBS at https://www.zacks.com/ap/CBS