LOS ANGELES (AP) — CBS Corp.'s revenue and earnings grew in the final quarter of the year, but the results fell short of analysts' forecasts, sending shares down in after-market trading.
Net income in the three months through Dec. 31 came to $393 million, or 60 cents per share. That's up from $370 million, or 55 cents per share, a year earlier.
Excluding discontinued operations, adjusted earnings came to 64 cents per share. That was below the 69 cents expected by analysts polled by FactSet.
Revenue grew 2 percent to $3.7 billion, below the $3.83 billion analysts were expecting.
The company also said it would double its share buyback program by $1 billion in 2013.
CBS' stock declined $1.04, or 2.4 percent, to $41.89 in after-hours trading.
