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.