Shares of Sinclair Broadcast Group SBGI remained unaffected after the company reported Q2 results.
Quarterly Results
Earnings per share increased 358.57% year over year to $3.21, which missed the estimate of $4.77.
Revenue of $1,283,000,000 up by 66.47% from the same period last year, which missed the estimate of $1,410,000,000.
Guidance
Q3 revenue expected between $1,477,000,000 and $1,514,000,000.
Conference Call Details
Date: Aug 05, 2020
Time: 09:00 AM
ET Webcast URL: http://sbgi.net/investor-relations/#EarningsWebcast
Technicals
Company's 52-week high was at $51.43
52-week low: $10.57
Price action over last quarter: Up 33.69%
Company Description
Sinclair Broadcast Group is the second- largest television station operator in the U.S., with 191 stations in 89 markets. Of the firm's 607 channels, 154 are affiliated with the four national broadcasters--Fox (59), ABC (41), CBS (30), and NBC (24)--with another 86 channels on networks aligned with CBS (47 CW channels) and Fox (39 MyNetworkTV channels). Via the 2019 purchase of Fox Sports Networks from Disney, Sinclair is now the largest owner or operator of regional sports networks with 14 Fox-branded RSNs covering 42 NBA, MLB, and NHL teams along with the new home of the Chicago Cubs, Marquee Sports Network. The firm also owns the Tennis Channel, four multicast networks, and professional wresting promotion Ring of Honor.
Edge Rankings
Price Trend
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