I have added the code as listed on this page (http://support.google.com/analytics/bin/answer.py?hl=en&answer=1136920) to record outbound links in google analytics.
How do I view this report in google analytics, do I need to create a report?
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Assuming the event tracking was set up correctly, you should be able to see your events in Standard Reporting -> Content -> Events. It can take up to 24 hours for first values to show up though.