Sinclair Broadcast Group (SBGI) Tops Q1 EPS by 1c

Sinclair Broadcast Group (NASDAQ: SBGI) reported Q1 EPS of $0.32, $0.01 better than the analyst estimate of $0.31. Revenue for the quarter came in at $649.9 million versus the consensus estimate of $647.32 million.

"2017 is shaping up to be a pivotal year with the FCC\'s recent reinstatement of the UHF discount, expected approval of ATSC 3.0 (Next Generation Broadcast Platform), and much needed modernization of antiquated broadcast regulations. Positive movements by the FCC on these fronts will allow us, among other things, to better serve our local communities through increased investment in local news and other quality local programming," commented David Smith, Executive Chairman. "In anticipation of ATSC 3.0\'s approval, we have been laying the groundwork for development of a nationwide network, design of 3.0 chipsets, and will be testing single frequency network technology and advanced business models later this summer. The Next Gen technology will transform how we interact with consumers and allow us to implement value-enhancing business models as the convergence and emergence of alternative platforms and companies proliferate."

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

You May Also Be Interested In

• Korn Ferry (KFY) Tops Q4 EPS by 2c, Beats on Revenue; Offers Q1 Guidance
• Worthington Enterprises raises dividend 5%, adds board member
• Bernstein SocGen Group Reiterates Outperform Rating on Hermes International (RMS:FP) (HESAY) after cautious commentary