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NEW YORK -On Monday, Clear Channel Outdoor Holdings Inc (NYSE:CCO) reported fourth quarter revenue below expectations.
Clear Channel Outdoor shares were up 2.22% following the earnings release,
The out-of-home advertising company posted Q4 revenue of $426.7 million, surpassing the consensus estimate of $416.0 million. This represents a 2.6% increase compared to the same quarter last year.
"During the fourth quarter, our America segment delivered record revenue of $310.7 million, representing an increase of 4.1%, driven by strength in digital and local sales," said Scott Wells, Chief Executive Officer of Clear Channel Outdoor Holdings, Inc.
For the first quarter of 2025, Clear Channel Outdoor expects revenue between $329 million and $344 million, below analyst estimates of $502.5 million. The company forecasts full year 2025 revenue in the range of $1.56 billion to $1.61 billion, also below the $2.34 billion consensus.
The company continues to execute on its plan to focus on higher margin U.S. markets, having recently announced an agreement to sell its Europe-North segment as well as completing sales of businesses in Mexico, Chile and Peru.
"We are following a path aimed at enhancing our ability to drive organic cash flow with the ultimate goal of reducing leverage on our balance sheet," Wells added.
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