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David D. Smith

Political ads buoyed earnings for Sinclair in first quarter

Political ads buoyed earnings for Sinclair in first quarter

Sales of political advertising buoyed earnings for Sinclair Broadcast Group Inc. in the first quarter, the company said Wednesday.

The Hunt Valley-based broadcaster reported income of $24.1 million for the three months that ended March 31, essentially flat compared to the $24.3 million it earned in the same period a year earlier. Earnings per share were the same at 25 cents, more than the 23 cents analysts expected.

Results exceeded expectations due to higher political ad revenue, especially during the March primaries, the company said. Political ad sales climbed to $24.4 million, compared with $2.2 million in the first quarter of 2015, with about 80 percent of political...

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