04:49 PM EDT, 09/19/2024 (MT Newswires) -- Sinclair (SBGI) said late Thursday it is increasing its total advertising revenue guidance for Q3 to between $425 million and $438 million to reflect strong political advertising revenue.

The company said it previously expected total advertising revenue for the quarter of $401 million to $428 million.

Sinclair raised its Q3 political advertising revenue estimate to a range of $140 million to $145 million from $113 million to $128 million previously.

The company, however, lowered its Q3 core advertising revenue forecast to between $285 million and $293 million, compared with the prior outlook of $288 million to $300 million due to crowdout from increased political advertising.

For full-year 2024, Sinclair now expects political revenue of $442 million to $469 million, versus $385 million to $410 million previously.

Shares of the company rose 6.4% in recent after-hours activity.

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