Clear Channel Outdoor Holdings Second Quarter 2024 Earnings: Misses Expectations

Clear Channel Outdoor Holdings (NYSE:CCO) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$558.5m (up 5.2% from 2Q 2023).
• Net loss: US$48.8m (loss widened by 24% from 2Q 2023).
• US$0.10 loss per share (further deteriorated from US$0.082 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Clear Channel Outdoor Holdings Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analyst estimates by 95%.

Looking ahead, revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Media industry in the US.

Performance of the American Media industry.

The company's shares are down 12% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Clear Channel Outdoor Holdings (1 can't be ignored!) that you should be aware of.

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