CBS Corporation Has One Of Its Best Quarters In History
CBS Corporation (NYSE:CBS) executive chairman Sumner Redstone recently announced that the company saw one of its best quarters ever, with revenue climbing by double digits compared to last year.
"As great as these last few years have been, this quarter tops it all," Redstone said. "What's most exciting is that we are poised to benefit from all of the strategic actions we've taken - and continue to take - for a long, long time. We have the best content and the right management to ensure success, and as a result, I have never been more confident about our Company's future than I am today."
CBS brought in $3.92 billion in revenue in the first quarter of 2012, marking a 12 percent increase compared with the $3.51 billion the company saw in the same period of 2011. The increase was supported by strong content licensing and distribution revenues, which grew 39 percent.
According to publicly available insider trading information, Anthony G. Ambrosio, executive vice president of CBS, recently sold 17,500 shares, valued at $34.07 each, which totaled $596,140.
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