CBS reported second quarter earnings after the close of the market on Tuesday, with Simon & Schuster recording a 1 percent increase in sales, up $2 million to $220 million, and a sharper increase in profits. Adjusted OIBDA rose $6 million (or 19 percent) to $38 million, and adjusted operating income also rose $6 million, at $30 million. The company said that “strong growth in the sale of more profitable digital content was offset by lower print book sales,” indicating that improved profits were “driven by lower direct operating costs, including expense decreases resulting from the significant increase in more […]
