Clear Channel Outdoor: Q2 Earnings Snapshot

Associated Press Finance

Mon, Aug 7, 2023, 6:26 AM1 min read

In this article:

SAN ANTONIO (AP) — SAN ANTONIO (AP) — Clear Channel Outdoor Holdings Inc. (CCO) on Monday reported a loss of $37.3 million in its second quarter.

On a per-share basis, the San Antonio-based company said it had a loss of 8 cents.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The outdoor advertising company posted revenue of $637.2 million in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $632.8 million.

For the current quarter ending in September, Clear Channel Outdoor said it expects revenue in the range of $570 million to $600 million.

The company's shares closed at $1.68. A year ago, they were trading at $1.52.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CCO at https://www.zacks.com/ap/CCO

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