Time Warner (TWX) is expected to report Q3 earnings before the market open on Wednesday, November 7 with a conference call scheduled for 10:30 am ET. Analysts are looking for EPS of 60c on revenue of $7.03B. The consensus range is 58c-70c for EPS, and $6.65B-$7.36B for revenue, according to First Call. After reporting better-than-expected EPS and lower revenues in Q2, the company reaffirmed its full-year outlook. It expected FY12 EPS growth rate to be in the low double digits. At its Q2 earnings conference call, Time Warner said it is in good shape to meet financial objectives and saw good momentum at HBO, but does not see any positive growth in TV ad revenue and is not satisfied with CNN's rating performance. In the past quarter, the company had box office hits in "The Dark Knight Returns," "Bourne Legacy" and "Taken 2", although the summer movie season saw lower attendance compared to previous years. The company also acquired Bleacher Report and announced the creation of a CNN Films division. Time Warner was upgraded to Buy at UBS and to Overweight at Morgan Stanley. It was, however, downgraded to Average at Caris and to Hold at Argus.