Sinclair Broadcast Group (SBGI) Misses Q4 EPS by 4c

Sinclair Broadcast Group (NASDAQ: SBGI) reported Q4 EPS of $1.32, $0.04 worse than the analyst estimate of $1.36. Revenue for the quarter came in at $797.7 million versus the consensus estimate of $805.17 million.

"With the spectrum auction coming to an end and the potential for deregulation on the horizon, we expect 2017 to be a pivotal year for Sinclair and the broadcast industry," commented David Smith, Executive Chairman. "Additionally, the Federal Communications Commission is in process of conducting a rulemaking proceeding for the use of ATSC 3.0 (the Next Generation Broadcast Standard), which we expect will result in its approval later this year. The new technology is expected to revolutionize the broadcast industry and provide for new business opportunities, products and services. We anticipate the long-awaited deregulation of the industry\'s antiquated rules and the end of the spectrum quiet period to spur consolidation; a positive given that our industry has been prohibited from competing on a level playing field with other forms of media."

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

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