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Sinclair: 2Q Earnings Snapshot

FILE - In this Tuesday, Oct. 12, 2004, file photo, Sinclair Broadcast Group, Inc.'s headquarters stands in Hunt Valley, Md. President Trump is jumping to the defense of the Sinclair Broadcast Group, which is under fire following the rapid spread of a video showing anchors at its stations across the country reading a script criticizing "fake" news stories. Trump tweeted Monday, April 2, 2018, that it was funny to watch "Fake News Networks" criticizing Sinclair for being biased. (AP Photo/Steve Ruark, File)

FILE – In this Tuesday, Oct. 12, 2004, file photo, Sinclair Broadcast Group, Inc.’s headquarters stands in Hunt Valley, Md. (AP Photo/Steve Ruark, File)

HUNT VALLEY — Sinclair Broadcast Group Inc. (SBGI) on Wednesday reported second-quarter earnings of $28 million.

On a per-share basis, the Hunt Valley, Maryland-based company said it had profit of 27 cents.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.

The television broadcasting company posted revenue of $730.1 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $715.5 million.

Sinclair shares have fallen 31 percent since the beginning of the year. The stock has fallen 17 percent in the last 12 months.


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