CBS, home to popular shows such as the "Big Bang Theory," and "NCIS", said advertising revenue during the reported quarter rose 14.2 percent to $1.26 billion (968.93 million pounds).

"We are confident that our strategy of growing CBS’ leadership position as a global multi-platform premium content company will lead to even greater creative and financial heights in the years to come,” said Joe Ianniello, interim Chief Executive Officer of CBS.

The New York-based company's results is its first report card since Chief Executive Officer Leslie Moonves resigned amid allegations of sexual assault and harassment. At stake is $120 million in severance payments owed to Moonves if the investigation proves Moonves did not leave the company for cause. The investigation and a board review of the findings is due by Jan. 31, 2019.

Former Chief Operating Officer Ianniello replaced Moonves as interim CEO while the company moves quickly to search for a replacement. Ianniello is in the running, sources have told Reuters.

An investigation into the allegations against Moonves and the culture of CBS by two law firms, Covington & Burling and Debevoise & Plimpton, continue.

However, CBS said affiliate and subscription fees revenue — which includes revenue from cable and satellite TV operators and online streaming providers, including its own All Access offering — fell 12 percent to $1.01 billion.

Net income from continuing operations rose to $488 million, or $1.29 per share, in the quarter ended Sept. 30, from $418 million, or $1.03 per share, a year earlier.

On an adjusted basis, the company earned $1.24 per share. Total revenue rose 3 percent to $3.26 billion, beating Wall Street expectations of a profit of $1.22 per share on revenue of $3.24 billion, according to IBES data from Refinitiv.

(Reporting by Arjun Panchadar in Bengaluru and Kenneth Li in New York; Editing by Shounak Dasgupta)