Earnings: Clear Channel Q4 Revenue Up 4 Percent; Radio Revenue Down 3 Percent
By Joseph Weisenthal - Thu 14 Feb 2008 02:32 PM PST
As it waits for its deal to happen… Radio network Clear Channel (NYSE: CCU) announced Q4 revenue of $1.84 billion, up 4 percent year-over-year from $1.77 billion. However, ex-currency effects revenue growth would have been a rather slim 1 percent. On a continuing basis, net income was up 22 percent to $223.6 million ($.45 per share) from $183.9 million ($.37 per share). Radio broadcasting revenue fell 3 percent to $874.5 million, with strength coming in the outdoor segment. In the announcement, Clear Channel said it still expects its sale to two private equity firms to close by the end of March.
Posted in: Media, Money, Earnings
Tags: clear channel
