SAN ANTONIO (AP) — SAN ANTONIO (AP) — Clear Channel Outdoor Holdings Inc. (CCO) on Wednesday reported a loss of $48.6 million in its first quarter.
On a per-share basis, the San Antonio-based company said it had a loss of 10 cents.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 9 cents per share.
The outdoor advertising company posted revenue of $373.9 million in the period, which topped Street forecasts. Three analysts surveyed by Zacks expected $345.2 million.
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