Clear Channel Q4: Profits Beat Street, Sales In-Line (CCU)

Clear Channel says its buyout deal is still on track to close before the end of March. In the meantime, the company posted a solid Q4.

CCU reported Q4 sales of $1.84 billion, up 4% y/y and in-line with Street expectations. EPS came in at 65 cents per share, beating the Street’s 43 cents per share consensus. Q4 net income jumped 52% y/y to $321 million. Radio revenue dropped 3% y/y to $875 million, while outdoor advertising sales increased 13% to $937 million. Release.

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