Sinclair Broadcast Group Inc. (NASDAQ: SBGI) said Monday boosted its fourth-quarter revenue outlook after stating its broadcast revenue was better than expected during the last three months of the year.
The company cited an increase in automotive advertisements for the boost in its fourth-quarter results.
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The broadcasting company now expects broadcast revenue for the three months ended Dec. 31 to fall about 6.5 percent to $153.8 million.
Previously, the company said broadcast revenue would fall 11 percent to 12.8 percent, or $143.3 million to $146.3 million.
Sinclair, who will report fourth-quarter results Feb. 17, saw its shares rise 46 cents, or 11.4 percent, to $4.49.
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