How To Trade CBS's Earnings (CBS, VIA-B, TWX)

CBS Corporation CBS is expected to report earnings today after the bell, and analysts are looking for huge growth from last year. The company is expected to report quarterly earnings of 43 cents per share, which is up 74% year over year. Quarterly revenue is expected to come in at $3.8 billion. In addition to the earnings, analysts will be listening intently to hear what CBS has to say about it's outlook for advertising, as well as it's guidance in 2011. Analysts will also ask for an update on whether the company is exploring a sale of its billboard advertising business, and perhaps, any color on "Two and a Half Men" star Charlie Sheen. If you believe that CBS is likely to report better than expected earnings, sympathy plays like Time Warner TWX and Viacom VIA could potentially see moves up on the earnings report. CBS Corporation operates as a mass media company in the United States and internationally. The company has operations in every field of media and entertainment, including broadcast television.