“We have a lot of positive news to share with you today, starting with results that met or exceeded our guidance estimates,” Chris Ripley, President/CEO of Sinclair Broadcast Group, declared as he opened the company’s Q4 earnings call with financial analysts on Wednesday morning.
If that was the case, why did Sinclair’s shares tumble with the ringing of the Opening Bell, and finish the day down a stunning 15%?
RSN expenses, coronavirus fears and lower net income are all plausible answers.
