CBS Corp. B-class shares dropped more than 2% after the company reported better-than-expected earnings and revenue for the second quarter. Net income for the quarter hit $423 million, or 93 cents per share, compared with $332 million, or 67 cents during the same period a year ago. The FactSet consensus on EPS was 86 cents. Revenue for the quarter rose to $3.29 billion, compared with $3.22 billion in the year-earlier period and was above the $3.21 billion FactSet consensus. CBS said advertising revenue decreased slightly to $1.55 billion during the quarter, compared with $1.59 billion a year ago. CBS B-class shares are up more than 15% in the year to date, outperforming the S&P 500 Index , which is up more than 6%.
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