ONLINE TO THE RESCUE: Broadcasting company CBS Corp. says third-quarter net income rose 7 percent, helped by new online streaming deals as advertising revenue "held steady" despite lower political ad spending.
REVENUE MISS: Although profit of 50 cents per share beat the 46 cents expected by analysts, revenue grew 2 percent to $3.37 billion. That was below the $3.44 billion analysts were looking for.
LOCAL SLOWDOWN? CBS said ad revenue growth in prime time at its CBS network and at outdoor billboards made up for a drop in political spending. That suggests weakness at local TV stations, echoing concerns raised by rival News Corp. on Wednesday.
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