CBS expects lower profits for the rest of the year.

The New York-based entertainment company said earnings will probably decline in the third and fourth quarters, compared to last year, due to weakened advertising sales on its CBS network. CBS Chairman Thomas P. Wyman based his forecast on advance advertising sales for the fall network season. He said the network profit decline would be offset in part by lower interest costs and CBS recorded music profits. CBS stock dropped $5.25 a share Wednesday, closing at $132.12 1/2.