Sinclair Inc (SBGI) shares surged 6.37% in after-hours trading on Thursday, following the release of the company's first-quarter 2026 financial results.
The media company reported quarterly earnings of $0.28 per share, significantly beating the analyst consensus estimate of a loss of $0.55 per share. This represents a substantial improvement from a loss of $2.30 per share in the same period last year. Revenue for the quarter rose 4% year-over-year to $807 million, exceeding the $798.3 million estimate.
Additionally, Sinclair reported a 13% increase in adjusted EBITDA to $126 million, driven by growth in digital advertising and core advertising revenue. The company also reaffirmed its full-year 2026 financial guidance and declared a quarterly cash dividend of $0.25 per share.