Sinclair Broadcast Group Inc. boosted sales and beat profit estimates in the final three months of 2018, helped by political advertising for November’s general election, the company reported Wednesday.
Shares of Sinclair stock closed up 6.2 percent at $34.83 each on Wednesday.
The Hunt Valley-based broadcaster said October-to-December revenues jumped more than 25 percent to $893.3 million, compared with sales of $712.5 million in the last quarter of 2017. That beat analysts’ expectations of $880 million. For the year, sales grew nearly 16 percent to $3 billion.
Fourth quarter income fell to $206.2 million compared with net income of $443.5 million in comparable period of...