Clear Channel Outdoor: Q1 Earnings Snapshot
By AP News
Published - May 09, 2023, 06:24 AM ET
Last Updated - Jun 21, 2023, 09:43 PM EDT
SAN ANTONIO (AP) — SAN ANTONIO (AP) — Clear Channel Outdoor Holdings Inc. (CCO) on Tuesday reported a loss of $34.9 million in its first quarter.
On a per-share basis, the San Antonio-based company said it had a loss of 7 cents. Losses, adjusted for non-recurring gains, were 23 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The outdoor advertising company posted revenue of $545.4 million in the period, beating Street forecasts. Four analysts surveyed by Zacks expected $540 million.
