That’s the key takeaway on CBS Corp.‘s Q3 earnings results, released just after the Closing Bell on Wall Street Thursday, from prolific Wall Street financial analyst Brian Wieser of Pivotal Research Group.
While CBS’s revenue climbed to $3.17 billion, from $3.08 billion, the Local Media segment lagged. That’s CBS Television O&Os and the company’s digital assets. Meanwhile, net earnings for Q3 climbed … but adjusted net earnings decreased by 4% when factoring in CBS Radio.
Here’s what Wieser, the Senior Research Analyst of Advertising at Pivotal, has to say about the quarter — the company’s last to feature CBS Radio as part of its results.