SAN ANTONIO (AP) — SAN ANTONIO (AP) — Clear Channel Outdoor Holdings Inc. (CCO) on Thursday reported fourth-quarter profit of $8 million.
On a per-share basis, the San Antonio-based company said it had profit of 2 cents. Losses, adjusted to account for discontinued operations, were 1 cent per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The outdoor advertising company posted revenue of $461.5 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $448.2 million.
For the year, the company reported profit of $19.9 million, or 4 cents per share. Revenue was reported as $1.6 billion.
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