Clear Channel Outdoor (CCO) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
Clear Channel Outdoor (CCO) reported $637.24 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 1%. EPS of -$0.08 for the same period compares to -$0.04 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $632.81 million, representing a surprise of +0.70%. The company delivered an EPS surprise of -60.00%, with the consensus EPS estimate being -$0.05.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Clear Channel Outdoor performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenue- Americas: $287.52 million versus the three-analyst average estimate of $288.05 million. The reported number represents a year-over-year change of -16.9%.
Geographic Revenue- Other: $22.35 million versus $21.79 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +32.2% change.
Revenue - Europe-North: $149.91 million versus the two-analyst average estimate of $147.59 million.
Revenue - Europe-South: $106.42 million versus the two-analyst average estimate of $116.03 million.
Revenue - Airports: $71.05 million versus the three-analyst average estimate of $63.24 million.
Adjusted EBITDA - Airports: $16.33 million versus $8.99 million estimated by three analysts on average.
View all Key Company Metrics for Clear Channel Outdoor here>>>
Shares of Clear Channel Outdoor have returned +10.5% over the past month versus the Zacks S&P 500 composite's +0.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Clear Channel Outdoor Holdings, Inc. (CCO) : Free Stock Analysis Report
