TV broadcaster and media company CBS beat analysts' estimates for third-quarter revenue and profit on Thursday, boosted by strong advertising sales and higher digital subscriptions.
CBS, home to popular shows such as the "Big Bang Theory," and "NCIS," said advertising revenue during the reported quarter rose 14.2 percent to $1.26 billion.
"We are confident that our strategy of growing CBS leadership position as a global multi-platform premium content company will lead to even greater creative and financial heights in the years to come, said Joe Ianniello, interim chief executive officer of CBS.
The New York-based company's results is its first report card since Chief Executive Officer Leslie Moonves resigned amid allegations of sexual assault and harassment. At stake is $120 million in severance payments owed to Moonves if the investigation proves Moonves did not leave the company for cause. The investigation and a board review of the findings is due by Jan. 31, 2019.
Former Chief Operating Officer Ianniello replaced Moonves as interim CEO while the company moves quickly to search for a replacement. Ianniello is in the running, sources have told Reuters.