HUNT VALLEY — Sinclair Broadcast Group Inc. (SBGI) on Wednesday reported third-quarter profit of $63.9 million.
On a per-share basis, the Hunt Valley, Maryland-based company said it had net income of 62 cents.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The television broadcasting company posted revenue of $766.3 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $749.3 million.
Sinclair shares have dropped 20 percent since the beginning of the year. The stock has climbed slightly in the last 12 months.