Sinclair posts 3Q profit due to soaring political advertising revenue

Sinclair Broadcast Group Inc. turned a profit in the third quarter on the strength of record political advertising even as core advertising fell amid economic uncertainty. The Hunt Valley-based media company saw its profit rise 10% to $21 million or 32 cents a share, compared to $19 million or 25 cents a share in the year-ago period. Excluding adjustments, Sinclair recorded a profit of $25 million. The earnings beat analysts’ estimates of 15 cents a share, according to Yahoo Finance.