Sinclair Broadcast Group

Sinclair reports third-quarter earnings that beat expectations

Sinclair reports third-quarter earnings that beat expectations

Sinclair Broadcast Group reported better-than-expected quarterly earnings Wednesday and boosted its quarterly dividend after seeing strong growth in political advertising sales.

The Hunt Valley-based TV station owner said revenue jumped nearly 19 percent to $766.3 million, compared with $644.5 million in the third quarter of 2017.

The company earned $63.9 million, or 62 cents per share, in the three months that ended Sept. 30, compared with $30.6 million, or 30 cents per share, in the same period of last year, it said. Analysts expected earnings of 56 cents per share.

The news sent Sinclair shares higher Wednesday, closing up 82 cents at $31.39 each.

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