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The CW (tv network)

Sinclair Broadcast earnings dip, but income tops analyst estimates

Sinclair Broadcast earnings dip, but income tops analyst estimates

Sinclair Broadcast Group Inc. saw earnings dip in a third quarter marked by TV station acquisitions and new program offerings, but still beat profit and sales expectations, the Hunt Valley-based company reported Wednesday.

The results sent its stock surging up nearly 4 percent to close Wednesday at $33.20 a share.

The broadcaster reported net income of $43.3 million, or 45 cents per share, in the three months that ended Sept. 30, compared with income of $48.3 million, or 49 cents per share, in the third quarter of 2014.

The results beat analysts' estimates of 24 cents per share, largely because of lower taxes and higher earnings before interest, taxes, depreciation...

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