SAN ANTONIO (AP) — SAN ANTONIO (AP) — Clear Channel Outdoor Holdings Inc. (CCO) on Wednesday reported a loss of $39.2 million in its second quarter.
On a per-share basis, the San Antonio-based company said it had a loss of 8 cents. Losses, adjusted for one-time gains and costs, came to 6 cents per share.
The results missed 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 $558.5 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $563.8 million.
For the current quarter ending in September, Clear Channel Outdoor said it expects revenue in the range of $542 million to $567 million.
The company expects full-year revenue in the range of $2.22 billion to $2.28 billion.
The company’s shares closed at $1.42. A year ago, they were trading at $1.62.
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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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