SAN ANTONIO (AP) — SAN ANTONIO (AP) — Clear Channel Outdoor Holdings Inc. (CCO) on Tuesday reported second-quarter net income of $9.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Antonio-based company said it had net income of 2 cents. Losses, adjusted to extinguish debt and to account for discontinued operations, came to 4 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 4 cents per share.
The outdoor advertising company posted revenue of $402.8 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $399.6 million.
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