LOS ANGELES (AP) - Broadcaster CBS says its first-quarter earnings grew as it cut costs by not hosting the Super Bowl this year and by sharing coverage of the NCAA college basketball tournament in a new programming deal.
Net income in the three months through March 31 was $202 million, or 29 cents per share, compared with a loss of $26 million, or 4 cents per share, a year ago.
Revenue fell less than 1 percent to $3.51 billion.
The results beat the forecast of analysts polled by FactSet, who expected earnings of 19 cents per share on revenue of $3.46 billion.
CBS says results were also helped by advertising revenue growth, after excluding a boost from the Super Bowl last year.
CBS also doubled its quarterly dividend to 10 cents per share.
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