Clear Channel Outdoor Holdings Inc. (NYSE:CCO) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Clear Channel Outdoor Holdings Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.02 in the quarter versus EPS of $-0.04 in the year-earlier quarter.
Revenue: Rose 0.73% to $766.87 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Clear Channel Outdoor Holdings Inc. reported adjusted EPS income of $0.02 per share. By that measure, the company missed the mean analyst estimate of $0.02. It beat the average revenue estimate of $753.1 million.
Quoting Management: “We delivered solid growth this quarter, with strong performance in the Americas and International’s results clearly reflecting our investments in emerging markets,” said Bob Pittman, Executive Chairman of Clear Channel Outdoor Holdings, Inc. “CEO William Eccleshare and his team are continuing to benefit from refocusing our U.S. sales force and our International resources. At the same time, we are building out our digital assets around the world to make it even easier for advertisers to create compelling campaigns that capitalize fully on the effectiveness of these new technologies and our out-of-home networks.”
Key Stats (on next page)…
Revenue increased 17.94% from $650.21 million in the previous quarter. EPS increased to $0.02 in the quarter versus EPS of $-0.22 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.01 and has not changed. For the current year, the average estimate has moved down from a loss of $0.11 to a loss of $0.12 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)