CBS Corp. Q2 Net Income Decreases - Quick Facts

(RTTNews) - CBS Corp. (CBS-A, CBS) reported second quarter net income of $332 million or $0.67 per share, compared to $439 million or $0.76 per share, prior year. Adjusted net earnings from continuing operations were $365 million or $0.74 per share, for the quarter.

The company noted that its adjusted results for the second quarter of 2015 exclude restructuring charges of $55 million, or $33 million net of tax, which were primarily related to the company's radio and television station operations. These restructuring activities are expected to reduce the company's annual cost structure by approximately $70 million.

Revenues were $3.22 billion, an increase of 1% from $3.19 billion for the same prior-year period. Affiliate and subscription fees grew 28%.