Clear Channel Outdoor Holdings Earnings: Here’s Why Investors are Happy Now

Clear Channel Outdoor Holdings Inc. (NYSE:CCO) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.25%.

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Clear Channel Outdoor Holdings Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $-0.22 in the quarter versus EPS of $-0.14 in the year-earlier quarter.

Revenue: Decreased 0.16% to $650.21 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Clear Channel Outdoor Holdings Inc. reported adjusted EPS loss of $0.22 per share. By that measure, the company missed the mean analyst estimate of $-0.14. It missed the average revenue estimate of $654.85 million.

Quoting Management: “Our Outdoor business performed well in the U.S., and we continue to shift our international capital and operating expenses to emerging markets where we’re seeing strong growth,” said Bob Pittman, Executive Chairman of Clear Channel Outdoor Holdings, Inc. “Thanks to CEO William Eccleshare’s leadership, we have enhanced our U.S. operations with more effective local and national sales forces, and we’re beginning to see our strategic investments contribute to improved results. We are very well positioned to help our advertising partners reach increasingly mobile, out-of-home consumers with impactful and cost-effective campaigns.”

Key Stats (on next page)…

Revenue decreased 19.05% from $803.19 million in the previous quarter. EPS decreased to $-0.22 in the quarter versus EPS of $0.01 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.03 to a profit $0.02. For the current year, the average estimate has moved down from a loss of $0.06 to a loss of $0.09 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)