CBS Corp Q4 2007 Earnings Release

CBS Corporation reported financial results for the fourth quarter and full year of 2007. Fourth quarter OIBDA increased 4% to $824 million and full year OIBDA increased 1% to $3.08 billion. Television revenues decreased 4% in the quarter and 2% for the full year due to lower political advertising. Radio revenues declined 10% in the quarter and 11% for the year due to weakness in advertising sales and divestitures. Outdoor revenues grew 7% in the quarter led by international growth, and 4% for the year. The company expects 3-5% OIBDA and operating income growth in 2008 excluding stock compensation.