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Exhibit 99.2
CBS CORPORATION
EARNINGS INFORMATION
THIRD QUARTER
(unaudited)
(in millions except per share data) Three Months Ended Nine Months Ended
Sept 30 Sept 30
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1998 1997 * 1998 1997 *
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Revenues $1,581 $1,285 $5,014 $3,894
Operating expenses (1,284) (1,038) (4,112) (3,316)
Depreciation and amortization (154) (107) (420) (317)
Residual costs of discontinued businesses (41) (35) (117) (106)
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Operating costs and expenses (1,479) (1,180) (4,649) (3,739)
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Operating profit 102 105 365 155
Other income and expenses, net 12 2 29 59
Interest expense (112) (102) (272) (305)
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Income (loss) from Continuing Operations before
income taxes and minority interest 2 5 122 (91)
Income tax (expense) benefit (39) (25) (134) (32)
Minority interest (1) 1 (3) 2
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Income (loss) from Continuing Operations (38) (19) (15) (121)
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Income (loss) from Discontinued Operations, net of income taxes - (143) - (191)
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Extraordinary item:
Loss on early extinguishment of debt (5) - (5) -
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Net Income (loss) ($43) ($162) ($20) ($312)
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Dividend requirements for Series C preferred stock - - - 23
Net income (loss) applicable to common stock ($43) ($162) ($20) ($335)
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Average shares outstanding - basic 697 630 698 608
Average shares outstanding - diluted 697 630 698 608
Basic and diluted earnings (loss) per common share:
Continuing Operations ($0.05) ($0.03) ($0.02) ($0.24)
Discontinued Operations $0.00 ($0.23) $0.00 ($0.31)
Extraordinary item ($0.01) $0.00 ($0.01) $0.00
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Basic and diluted earnings (loss) per common share ($0.06) ($0.26) ($0.03) ($0.55)
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* Certain previously reported amounts have been reclassified to conform to the
1998 presentation.