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Sinclair Broadcast reports jump in third-quarter profit
Sinclair Broadcast reports jump in third-quarter profit

Sinclair Broadcast Group Inc. reported a jump in third-quarter profit Wednesday, driven by strong gains in television political advertising. The Hunt Valley-based broadcaster said it earned $48.3 million in the three months ended Sept. 30, up 33 percent from its income of $36.3 million in the third quarter of 2013. Per-share earnings jumped to 49 cents from 36 cents. While the profit beat analysts' estimates of 33 cents per share, according to Zacks Investment Research, Sinclair's stock took a tumble in afternoon trading, falling 3.8 percent to $27.06 per share. The broadcaster's net revenue from continuing operations surged nearly 48 percent to $448.1 million from $303...

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