SAN ANTONIO (AP) — SAN ANTONIO (AP) — Clear Channel Outdoor Holdings Inc. (CCO) on Monday reported a loss of $37.3 million in its second quarter.
On a per-share basis, the San Antonio-based company said it had a loss of 8 cents.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The outdoor advertising company posted revenue of $637.2 million in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $632.8 million.
For the current quarter ending in September, Clear Channel Outdoor said it expects revenue in the range of $570 million to $600 million.
The company’s shares closed at $1.68. A year ago, they were trading at $1.52.