CBS beats Q1 Earnings Forecast, reports $3.76 billion in revenue

American mass media giant, CBS Corp. beat its earnings forecast for the first quarter of 2018 with a revenue of $3.76 billion, a 13 percent up from revenue of $3.34 billion during the first quarter of 2017. The premium subscriptions include subscriptions to CBS All Access and Showtime OTT, OTT TV services that provide subscribers with ad-free streaming TV shows and movies, including original and exclusive programming.

Leslie Moonves, CBS chairman and CEO quoted, “CBS’s phenomenal first-quarter results once again affirm that we have the right strategy to successfully monetize our premium content now and in the future. We achieved these record results thanks to the many ways we are delivering our must-have content, including our direct-to-consumer services-CBS All Access and Showtime OTT-which continue to grow rapidly and are now contributing meaningful dollars to our bottom line while attracting younger viewers”.