CBS reported first quarter earnings after the close of the market on Tuesday, with Simon & Schuster recording strong results: sales rose 14 percent, up $21 million to $176 million. It’s a quarter with traditionally thin margins, but OIBDA rose as well, up $3 million to $10 million, with operating income of $8 million, as gains in content sales were “partially offset by higher costs related to legal matters”–which presumably means the settlement discussions with the Department of Justice and state attorneys general. Since those settlements have not been finalized, there is no larger charge against earnings declared yet for the […]
