CBS Reports Fourth Quarter Revs Of $3.9 Billion

CBS Corporation reported fourth-quarter earnings yesterday. The broadcasting giant’s revenues were $3.9 billion, up 11 percent from the previous year, and earnings, after factoring out a $43 million loss and $15 million in restructuring charges, were $319.4 million, up 78 percent from the year before.

Even without those adjustments CBS is looking pretty good. Every segment of its business showed a profit as well as an increase in revenue, from publishing to cable to local broadcasting to even outdoor advertising. Even ad revenues at CBS stations picked up 28 percent.

That’s good, because advertising (not just at CBS stations, but also including billboards, online, etc) makes up two-thirds of CBS’s business. Advertising contributed $2.6 billion to the company’s coffers this quarter, up from $2.4 billion in the last quarter of 2009.