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Sinclair Broadcast exceeds second-quarter profit forecasts

Sinclair Broadcast exceeds second-quarter profit forecasts

Sinclair Broadcast Group Inc. posted strong gains in sales and earnings in the second quarter, helped by the higher fees it has been able to negotiate from cable and satellite TV providers, the Hunt Valley broadcaster said Wednesday. Its profit increased 11 percent to $45.8 million, or 48 cents per share, for the three months that ended June 30. That compares to income of $41.3 million, or 42 cents per share, in the same period a year earlier. Revenues jumped more than 21 percent to $554.2 million, from $455.1 million in 2014's second quarter. While the results exceeded the expectations of Wall Street analysts, who estimated earnings of 37 cents per share on revenue of $542.14...

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