Clear Channel Outdoor: Q1 Earnings Snapshot
SAN ANTONIO (AP) — SAN ANTONIO (AP) — Clear Channel Outdoor Holdings Inc. (CCO) on Thursday reported first-quarter net income of $62.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Antonio-based company said it had net income of 13 cents. Losses, adjusted to account for discontinued operations, were 11 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 13 cents per share.
The outdoor advertising company posted revenue of $334.2 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $338.2 million.
For the current quarter ending in June, Clear Channel Outdoor said it expects revenue in the range of $393 million to $408 million.
The company expects full-year revenue in the range of $1.56 billion to $1.61 billion.
The company's shares closed at 98 cents. A year ago, they were trading at $1.39.
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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