Sinclair surges 11% as Q3 swings to profit on revenue growth

Sinclair (SBGI.US) surged nearly 11% during regular trading to $15.60.

The media industry index rose 7.1% over the same period.

The company reported third-quarter net income of $46 million, swinging to a profit from a loss a year earlier, while revenue rose 18% year-over-year to $789 million. Political advertising revenue climbed to $135 million from $6 million in the prior year, driven by the midterm election cycle, and operating income increased to $135 million from $49 million.

Sinclair announced a quarterly dividend of $0.25 per share, payable Dec. 15 to shareholders of record as of Dec. 1, representing an annualized payout of $1.00.

Based on public media reports. AI-generated; not investment advice.