CBS Corp. took a leap of as much as 30 percent on Friday, showing the affect of slightly better-than-expected quarterly profit and upbeat comments from its chief executive, posted a day earlier.

CBS Corp. has been among the hardest hit by the drop in advertising due to economic slowdown.

It should be noted here that advertising accounts for about 65 percent of revenue at CBS Corp.

Comments by company's CEO, Leslie Moonves after the company reported earnings that surpassed projections slightly, signified the recovery of advertising in the recent future.

CBS Corp. had reported a profit of 8 cents per share, up from 7 cents, projected by analysts. However, company posted net income of $15.4 million, down from $408.4 million for the same quarter in the previous year.

CBS soared to $10.81, up $2.27 at 4:01 p. m. at NYSE composite trading; the largest increase since 2005.

Anthony DiClemente, an analyst said, "The implications of high-margin incremental CBS network ad dollars rippling through the model have sent the stock up."

CBS Corp. has forecast operating income worth $1.73-$1.93 billion for 2009.