CBS Revenues Dip Slightly Sans Super Bowl; Digital Publishing Sales Double

CBS Corp. (NYSE: CBS) turned in a pretty strong quarter on both cable and broadcast as it heads into the upfront. The absence of the Super Bowl XLV, which was broadcast on Fox this year, caused revenues to slip just slightly, while the cable division, which houses Showtime Networks and CBS Sports Network, saw revenues rise by 7 percent.

As usual, the earnings release contained no clear details about CBS Interactive. But book publishing division Simon & Schuster did provide some background on digital growth. The publisher doubled last year’s Q1 digital sales. With this quarter, digital now represents 18 percent of the publishing segment’s total revenues, which were up about 2 percent to $155 million.

Publishing OIBDA more than doubled to $7 million in Q1. Aside from lower shipping and other reduced costs, CBS cited a “significant increase” in digital sales as a percentage of total revenues for the OIBDA increase.