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CBS Experiences Major Boost In Advertising In 4Q 2010

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CBSCBS, home of popular shows like CSI and Charlie Sheen’s Two And Half Men, experienced a boost in earnings during the fourth quarter of 2010 as a result of boost in advertising.

The boost came from last year’s political campaign, as well as retailers spending more to advertise to holiday shoppers. The increased spending from retailers, some believe, is indicative of an economic recovery from the hard hitting recession of the past few years.

According to CBS’ CEO, Leslie Moonves, “We expect great things this year and beyond.”

CBS managed to earn $283 million dollars in the fourth quarter, which equates to 41 cents per share. During the same quarter of 2009, the company only managed a profit of $59 million dollars, which equated to 9 cents a share.

The New York-based CBS, in considered a barometer for the ad market, as it owns the highest-rated television network.

CBS Experiences Major Boost In Advertising In 4Q 2010 by
Authored by: Harrison Barnes