Correction: Earns-CBS story

Correction: Earns-CBS story

NEW YORK (AP) -- In a story Feb. 15 about CBS' fourth-quarter results, generated by Automated Insights using data from Zacks Investment Research, The Associated Press reported the wrong number for the company's adjusted earnings and mistakenly said they fell short of analyst estimates. CBS' adjusted profit did beat estimates.

A corrected version of the story is below:

CBS reports 4Q loss; adjusted figure tops St. view

CBS reports fourth-quarter loss of $113 million

NEW YORK (AP) -- CBS Corp. on Wednesday reported a fourth-quarter loss of $113 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the New York-based company said it had a loss of 26 cents. Earnings, adjusted to account for discontinued operations and non-recurring costs, were $1.11 per share.

The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.10 per share.

The media company posted revenue of $3.52 billion in the period.

CBS shares have risen 2.5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 5 percent. In the final minutes of trading on Wednesday, shares hit $65.24, an increase of 45 percent in the last 12 months.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBS at https://www.zacks.com/ap/CBS

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Keywords: CBS, Earnings Report

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