Sinclair Broadcast Group (SBGI) Tops Q1 EPS by 13c

Sinclair Broadcast Group (NASDAQ: SBGI) reported Q1 EPS of $0.25, $0.13 better than the analyst estimate of $0.12. Revenue for the quarter came in at $504.8 million versus the consensus estimate of $503.67 million.

"Our first quarter results slightly exceeded the high end of our revenue guidance due to both favorable core advertising and retransmission revenues," commented David Smith, President and CEO of Sinclair. "In addition, we had favorable variances in a number of our expense categories. Recently, we announced several initiatives expected to add longer-term value and growth opportunities, including the launch of our Digital Ventures group, which will develop and enhance our digital capabilities, as well as a partnership with Visible World for a programmatic/audience network platform that will allow us to compete for network and cable national advertising dollars."

For earnings history and earnings-related data on Sinclair Broadcast Group (SBGI) click here.

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