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Time Warner (NYSE:TWX) is expected to report Q3 earnings before the open on Wednesday, November 2, with a conference call scheduled for 10:30 am ET.

Guidance

Analysts are looking for a profit of 76c on revenue of $6.98B. The consensus range is 73c-79c for EPS, and revenue of $6.63B-$7.32B, according to First Call. In August, Time Warner guided FY11 EPS growth at least in the low teens vs. 2010 EPS $2.14 and consensus $2.78. The company said it was on track to meet, if not exceed, guidance for FY11, forecasting a strong 2H for Warner Bros. The CW Television Network, a venture between Warner Bros. and CBS (NYSE:CBS), recently signed a five-year licensing agreement with Hulu for the rights to stream in-season episodes of The CW's programming on Hulu and Hulu Plus. Warner Bros. also said it will no longer allow Blockbuster (OTC:BLOAQ) to carry its new movies when released on DVD and will only let them offer its films only for sale for the first 28 days of release before allowing consumers to rent. The LA Times recently reported that Warner Bros. Interactive Entertainment is having more success in video games than rival entertainment companies by acquiring and expanding video game franchises not tied to individual films. Analysts and investors will listen for comments on Q4 movie releases, as well as advertising trends through the rest of the year; in August, Time Warner forecast "some softness" in advertising in Q3, with a decline in publishing income. Additionally, the company is likely to comment on how the HBO Go app is faring.

Source: Earnings Preview: Time Warner