CBS said its Q1 interactive sales almost tripled year-over-year thanks to its $1.8 billion acquisition of CNET. But if you back out CNET, the numbers are less impressive: CBS’s legacy interactive revenues were down 5% and CNET’s were down 9%.
Here’s how we got there:
- CBS posted $133.6 million in Interactive sales for Q1, up from $52.9 million from Q1 ’08.
- But on a comparable basis, sales dropped 5% from Q1 ’08.
- That means legacy CBS Interactive sales were $50.3 million last quarter.
- Subtracting that from the $133.6 million total, we can back out CNET’s Q1 ’09 revenues: $83.3 million.
- That’s down 9% from CNET’s $91.4 million of Q1 ’08 sales.
That’s still better than the rest of CBS’s business: The company’s overall sales dropped 13% and CBS swung to a net loss.