The company, which also benefited from an extra NFL playoff game, said its net income rose to $473 million, or $1.02 per share, in the quarter ended March 31, from $394 million, or 78 cents per share, a year earlier.
CBS, home to shows such as "NCIS", "The Late Show with Stephen Colbert" and "The Big Bang Theory", said its revenue rose to $3.85 billion from $3.5 billion a year earlier.
Chairman and Chief Executive Leslie Moonves said in prepared remarks that the company’s quarterly per-share earnings came in above a dollar for the first time in its history.
“Advertising was extremely strong, growing 31% overall and 49% at the CBS Television Network,” Mr. Moonves stated.
Revenue from the company’s cable operations fell to $525 million, compared with $539 million in the year-earlier period, owing to lower international licensing revenue. Revenue from publishing was flat while operating income grew owing to lower production costs at Simon & Schuster.
CBS’s growth in television-advertising revenue was driven by the Super Bowl, along with additional National Football League games in 2016, and a 12% increase in underlying network advertising.
Advertising was robust at the company and is likely to ramp up in weeks and months to come, according to CBS’ chairman and chief executive, Leslie Moonves. “Looking ahead, we are in a very enviable position for this year’s upfront, given the ongoing strength of our primetime lineup and a robust advertising marketplace,” the executive said in a prepared statement. “Plus, advertising is poised for even more growth in the back half of the year as political spending ramps up.”
CBS previously has said it is less vulnerable to “cord-cutting” and unbundling of cable television packages, thanks to its investments for the future as a content company.
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