Sinclair Updates Q3 Political Advertising Revenue Guidance From $113M-$128M To $140M-$145M; Now Sees Q3 Local Media Advertising Revenue $425M-$438M, Up From Prior Expectation Of $401M-$428M
Portfolio Pulse from Benzinga Newsdesk
Sinclair Broadcast Group has updated its Q3 political advertising revenue guidance to $140M-$145M, up from the previous $113M-$128M. Additionally, the company now expects Q3 local media advertising revenue to be $425M-$438M, an increase from the prior expectation of $401M-$428M.
September 19, 2024 | 8:22 pm
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Sinclair Broadcast Group has increased its Q3 revenue guidance for both political and local media advertising, indicating stronger than expected performance.
The upward revision in revenue guidance suggests Sinclair is experiencing stronger than anticipated demand in its advertising segments, which is likely to positively impact its stock price in the short term.
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