CBS’ ‘Thursday Night Football’ Hurt Earnings, But Still Scored: Analysts

Deadline

At least two influential Wall Street analysts just cut their earnings estimates for CBS citing lower-than-expected ratings for NFL Thursday Night Football, which replaced conventional series in the first two months of the primetime season. All but two of the matches were “dull blow-outs,” helping to make the series “slightly loss-making” in relation to CBS’s highly profitable regular lineup, MoffettNathanson Research’s Michael Nathanson says today. He lowered his full year earnings per share estimate by 10 cents to $3.10, citing the results among other factors. Yesterday RBC Capital Markets’ David Bank dropped his earnings forecast for CBS by 27 cents to $3.07, in part because the Thursday football ratings “were not quite as strong as we hoped.”

Still, neither is blowing raspberries. Just the opposite. The temporary move of The Big Bang Theory to Monday nights helped CBS to “launch a new show on Monday (Scorpion)” while making Fox and NBC “look especially…

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