Sinclair reports 25% dip in ad revenue despite record Q2 political adspend

News in brief

Sinclair’s total Q2 advertising revenues declined 25% from $491m in Q2 2021 to $366m in Q2 2022.

This despite a record second quarter for political advertising, which totaled $54m in spend as competitive US midterms heat up.

The US telecommunications conglomerate reported mixed earnings overall, with earnings per share of $0.17 beating analyst estimates of $-0.01 while revenue of $837m missed estimates of $840m.

Sinclair cited lower results from its regional sports network, Diamond Sports Group, as reasons for the depressed revenue results.