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Exhibit 99.2
CBS CORPORATION
EARNINGS INFORMATION
SECOND QUARTER
(unaudited)
(in millions except per share data) Three Months Ended Six Months Ended
June 30 June 30
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1998 1997 1998 1997
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Revenues $1,484 $1,283 $3,433 $2,609
Operating expenses (1,183) (1,038) (2,828) (2,278)
Depreciation and amortization (136) (105) (266) (210)
Residual costs of discontinued businesses (38) (36) (76) (71)
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Operating costs and expenses (1,357) (1,179) (3,170) (2,559)
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Operating profit 127 104 263 50
Other income and expenses, net 12 16 17 57
Interest expense (85) (102) (160) (203)
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Income (loss) from Continuing Operations before
income taxes and minority interest 54 18 120 (96)
Income tax (expense) benefit (48) (29) (95) (7)
Minority interest (2) - (2) 1
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Income (loss) from Continuing Operations 4 (11) 23 (102)
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Income (loss) from Discontinued Operations, net of income taxes - 12 - (48)
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Net Income (loss) $4 $1 $23 ($150)
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Dividend requirements for Series C preferred stock - 11 - 23
Net income (loss) applicable to common stock $4 ($10) $23 ($173)
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Average shares outstanding - basic 701 604 700 596
Average shares outstanding - diluted 721 604 719 596
Basic earnings (loss) per common share:
Continuing Operations $0.01 ($0.04) $0.03 ($0.21)
Discontinued Operations $0.00 $0.02 $0.00 ($0.08)
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Basic earnings (loss) per common share $0.01 ($0.02) $0.03 ($0.29)
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Diluted earnings (loss) per common share:
Continuing Operations $0.01 ($0.04) $0.03 ($0.21)
Discontinued Operations $0.00 $0.02 $0.00 ($0.08)
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Diluted earnings (loss) per common share $0.01 ($0.02) $0.03 ($0.29)
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