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CBS is expected to report Q3 earnings Thursday, November 4 after market close with a conference call scheduled for 4:30 pm ET.

Guidance

Analysts are looking for EPS of 31c on revenue of $3.35B. The consensus range is 27c-34c for EPS, and $3.17B-$3.54B for revenue, according to First Call. CBS's Q3 results should see positive catalysts from the the political advertising cycle, an improved advertising spending environment in general and an improving demographic for CBS. On October 15, Barrons said CBS's reputation as the "old people's network" is changing -- that its "growing younger." CBS' ratings through the first two weeks of the new broadcast season increased 3% among 18- to 49-year-olds, while the four major networks as a group are down 5% in that demographic. Veteran programs such as CSI and NCIS remain top-10 shows, and more-recent fare, such as The Good Wife and The Big Bang Theory perform strongly. Analysts say the stock has 15% to 20% upside over the next year.

Analyst Views

On November 2, Caris said it expects CBS to report better than expected results for Q3 and the stock should be bought into earnings results.

Source: Earnings Preview: CBS