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CBS Corp. on Tuesday kicked off earnings season in fine fashion, resoundingly beating Wall Street’s expectations in the wake of a powerhouse upfront bazaar and an uptick in licensing and retrans dollars.
In the second quarter of 2011, CBS generated profits of $395 million, or 58 cents a share, up 163 percent from $150 million, or 22 cents a share, in the prior-year period. Analysts had anticipated a profit of 45 cents per share.
Consolidated revenue grew 8 percent to $3.59
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