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Exhibit 99.2
CBS CORPORATION
EARNINGS INFORMATION
FIRST QUARTER
(unaudited)
(in millions except per share data) Three Months Ended
March 31
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1998 1997
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Sales and operating revenues $ 1,949 $ 1,326
Operating expenses (1,645) (1,240)
Depreciation and amortization (130) (105)
Residual costs of discontinued businesses (38) (35)
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Operating costs and expenses (1,813) (1,380)
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Operating profit (loss) 136 (54)
Other income and expenses, net 5 41
Interest expense (75) (101)
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Income (loss) from Continuing Operations before
income taxes and minority interest 66 (114)
Income tax benefit (expense) (47) 22
Minority interest -- 1
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Income (loss) from Continuing Operations 19 (91)
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Discontinued Operations, net of income taxes:
Loss from Discontinued Operations -- (60)
Estimated gain (loss) on disposal of Discontinued
Operations -- --
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Loss from Discontinued Operations -- (60)
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Net Income (loss) $ 19 ($ 151)
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Dividend requirements for Series C preferred stock -- 12
Net income (loss) applicable to common stock $ 19 ($ 163)
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Average shares outstanding - basic 698 589
Average shares outstanding - diluted 718 589
Basic earnings (loss) per common share:
Continuing Operations $ 0.03 ($ 0.18)
Discontinued Operations $ 0.00 ($ 0.10)
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Basic earnings (loss) per common share $ 0.03 ($ 0.28)
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Diluted earnings (loss) per common share:
Continuing Operations $ 0.03 ($ 0.18)
Discontinued Operations $ 0.00 ($ 0.10)
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Diluted earnings (loss) per common share $ 0.03 ($ 0.28)
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