Clear Channel Outdoor Down 8.5% on Bigger Than Expected Q1 Loss
Clear Channel Outdoor Holdings (NYSE: CCO) is trading lower on the session following its Q1 earnings announcement. The company reported an EPS of $(0.14), which may not compare vs $(0.08) estimates and revenues of $651.3 million vs $662.48 million estimates.
Bob Pittman, Executive Chairman of Clear Channel Outdoor Holdings said: “Our Company continued to generate solid revenues this quarter – despite the lingering economic challenges, especially in Europe. Under the unified leadership of William Eccleshare, we are continuing to invest significantly in digital displays and other innovative platforms to drive future growth, while working hard to better serve our marketing partners with our global talent and experience.”
Clear Channel Outdoor is currently trading at $6.76, a loss of $0.63 or 8.53%.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.