July 13, 1995 in Nation/World

Cbs Earnings Plunge 53 Percent

Compiled From Wire Services
 

CBS Inc.’s second-quarter earnings fell 53 percent from a year ago due to weaker-than-expected ratings and a special charge related to staff reductions.

Earnings totaled $51.9 million, or 80 cents per share, in the quarter, down from $109.3 million, or $1.36 a share, in the second quarter of 1994, the company said Wednesday.

The second-quarter earnings included a pretax charge of $32.3 million, or 32 cents a share, for staff reductions, which included an early retirement program.


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