SAN ANTONIO (AP) — SAN ANTONIO (AP) — Clear Channel Outdoor Holdings Inc. (CCO) on Thursday reported a loss of $32.5 million in its third quarter.
The San Antonio-based company said it had a loss of 7 cents per share.
The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for a loss of 7 cents per share.
The outdoor advertising company posted revenue of $559 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $555.7 million.
For the current quarter ending in December, Clear Channel Outdoor said it expects revenue in the range of $628 million to $653 million.
The company expects full-year revenue in the range of $2.22 billion to $2.25 billion.
The company’s shares closed at $1.50. A year ago, they were trading at $1.20.
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