Local and network TV help CBS revenue rise 12% in Q1 '10
Wednesday, May 05, 2010
By: Matt Stump
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Bolstered by renewed growth in network and local TV, CBS posted a 12% increase in Q1 '10 revenue to $3.16 billion.
Adjusted OIBDA rose 40%, from $250.6 million to $351.3 million.
Local broadcasting revenue rose 19%, from $510 million to $605.5 million
Entertainment revenue rose 15%, from $1.8 billion to $2.1 billion, driven by the Super Bowl that pushed network ad revenue up 25%
Cable network revenue rose 8% from $341 million to $368 million.
CBS said overall ad revenue rose to $2.3 billion from $2.03 billion, while affiliate revenue rose from $343 million to $383 million.