Sinclair Broadcast profit rises on political advertising boom

Sinclair Broadcast Group Inc.’s first-quarter earnings rose 3 percent on a large increase in revenue from political advertising. The Hunt Valley broadcaster posted a profit of $25.6 million, or 25 cents per share, up from $24.8 million, or 25 cents per share, in the year-ago quarter. Revenue rose nearly 15 percent from $504.8 million a year ago to $578.9 million in the most recent quarter. The earnings topped Wall Street’s expectations. Analysts polled by Thomson Reuters projected earnings of…

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