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CBS Corp's quarterly profit falls 46.5 pct
February 15, 2017 / 9:23 PM / 7 months ago

CBS Corp's quarterly profit falls 46.5 pct

Feb 15 (Reuters) - CBS Corp, owner of the most-watched U.S. television network, reported a 46.5 percent drop in quarterly profit, hurt mainly by a one-time pension settlement charge.

The company’s net income from continuing operations fell to $271 million, or 63 cents per share, in the fourth quarter ended Dec. 31 from $507 million, or $1.07 per share, a year earlier.

The comparable quarter had included a gain from the sale of an internet business in China.

CBS, home to popular shows such as “NCIS” and “The Big Bang Theory”, said revenue fell 2 percent to $3.52 billion. (Reporting by Laharee Chatterjee in Bengaluru; Editing by Anil D‘Silva)

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