Revenue during the quarter went down marginally by 2.03 percent to $3,518 million from $3,591 million in the previous year period. Total expenses were 86.24 percent of quarterly revenues, up from 78.56 percent for the same period last year. That has resulted in a contraction of 768 basis points in operating margin to 13.76 percent.

Operating income for the quarter was $484 million, compared with $770 million in the previous year period.

However, the adjusted operating income for the quarter stood at $733 million compared to $664 million in the prior year period.

"2016 was a phenomenal year for the CBS Corporation, with all-time highs in revenue, operating income, and EPS that came in above $4 for the first time in our Company's history; and as we begin 2017, I couldn't be more excited about our growth prospects in the years ahead," said Leslie Moonves, chairman and chief executive officer, CBS Corporation. "We are already exceeding our projections to generate billions of dollars in incremental revenue, thanks to our new, fast-growing revenue sources and the strength of our base business. At the CBS Television Network, we are on track to be #1 for the ninth year in a row and 14 out of the past 15 years. And with ownership in more than 80% of our primetime lineup, the opportunities to monetize our hit shows across platforms and around the world have never been better. Meanwhile, annual revenue from retransmission consent and reverse compensation has already exceeded $1 billion, a full year ahead of schedule, and continues to grow rapidly."

The company has spent $340 million cash to meet investing activities during the year as against cash inflow of $154 million in the last year.

The company has spent $1,046 million cash to carry out financing activities during the year as against cash outgo of $1,653 million in the last year period.

Cash and cash equivalents stood at $622 million as on Dec. 31, 2016, up 92.57 percent or $299 million from $323 million on Dec. 31, 2015.

Working capital increases
Cbs Corporation has recorded an increase in the working capital over the last year. It stood at $2,355 million as at Dec. 31, 2016, up 7.68 percent or $168 million from $2,187 million on Dec. 31, 2015. Current ratio was at 1.64 as on Dec. 31, 2016, up from 1.61 on Dec. 31, 2015.

Debt moves up
Cbs Corporation has witnessed an increase in total debt over the last one year. It stood at $9,375 million as on Dec. 31, 2016, up 10.97 percent or $927 million from $8,448 million on Dec. 31, 2015. Total debt was 38.68 percent of total assets as on Dec. 31, 2016, compared with 35.55 percent on Dec. 31, 2015. Debt to equity ratio was at 2.54 as on Dec. 31, 2016, up from 1.52 as on Dec. 31, 2015. Interest coverage ratio deteriorated to 4.52 for the quarter from 7.48 for the same period last year.