After CBS Corporation reported record results for Q1, how are things looking for the rest of 2012 and into 2013? Here’s what CBS management had to say to Wall Street analysts, including some guidance regarding local TV and radio ad sales.
CBS Corp. CFO Joseph Ianniello provided some guidance in the company’s quarterly conference call about what management sees ahead.[audio: Joseph-Ianniello-050112.mp3|titles= Joseph Ianniello]
Ianniello was later asked to elaborate on that low single digit guidance for local television and radio. He said TV was pacing a bit ahead of radio.
The CFO was also asked about the 2% gain for the TV station group in Q1. What would it be just for advertising, excluding retransmission consent revenues? The CFO said the gain was still 2%, since only half of the retrans received by CBS is counted in local media, with the other half counted at the CBS Television Network.