SAN ANTONIO (AP) — SAN ANTONIO (AP) — Clear Channel Outdoor Holdings Inc. (CCO) on Thursday reported a loss of $60.1 million in its third quarter.
On a per-share basis, the San Antonio-based company said it had a loss of 12 cents. Losses, adjusted to extinguish debt and to account for discontinued operations, came to 3 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The outdoor advertising company posted revenue of $405.6 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $401.7 million.
Clear Channel Outdoor expects full-year revenue in the range of $1.58 billion to $1.6 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CCO at https://www.zacks.com/ap/CCO
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