Clear channel has remained quiet over the last few weeks. The earnings were better than expected, but that did not move the needle much. Perhaps, the stock has already appreciated a lot over the last 52 weeks, which makes further rise a bit difficult. The stock has appreciated more than 45% over the last one year. The good part is that the company posted a net profit in Q2'13 after a few quarters of losses, and even the revenue increased slightly. Though the company is having a net loss of $199.66 million on a ttm basis, most of that loss can be attributed to the impairment in Q4'12 due to extinguishment of debt. The gross profit is $1.34 billion and the revenue is $2.95 billion (ttm). The operating profit margin is in excess of 10%. However, over the years the performance has not been that good because the top and the bottom-line has not shown consistent growth. Q2'13 is a good start, but it will need more than a few good quarters to change the mood. Importantly, like many peers in the industry, the debt is high. The debt has increased recently, and the cash on books has gone down in the recent quarters. The topline growth is not easy in view of the high level of competition in the industry. The outdoor advertising segment has Lamar (LAMR) and CBS (CBS) and other players, and the segment itself gets strong competition from other forms of advertising. Online advertising is a fast growing and dynamic field. Sponsored content on the internet / social media or native advertising is being preferred by many advertisers. A company in this segment, IZEA (IZEA) recently posted record Q2 numbers. The competition also puts pressure on the margins due to higher costs. Clear Channel needs to work hard to deliver good numbers consistently so that the uptrend can be sustained.