Clear Channel Outdoor Holdings, Inc. Reports Results for 2013 Second Quarter
- Revenue rose 2% year over year to $765 million, and OIBDAN1 was up 4% to $203 million, excluding foreign exchange and divestitures
- Americas revenue grew 5% and OIBDAN increased 3%, excluding foreign exchange
- International revenue was flat and OIBDAN grew 8%, excluding foreign exchange and divestitures
San Antonio, August 1, 2013…Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) today reported financial results for the second quarter ended June 30, 2013.
“We delivered solid growth this quarter, with strong performance in the Americas and International’s results clearly reflecting our investments in emerging markets,” said Bob Pittman, Executive Chairman of Clear Channel Outdoor Holdings, Inc. “CEO William Eccleshare and his team are continuing to benefit from refocusing our U.S. sales force and our International resources. At the same time, we are building out our digital assets around the world to make it even easier for advertisers to create compelling campaigns that capitalize fully on the effectiveness of these new technologies and our out-of-home networks.”
“We are pursuing growth opportunities globally, working with our advertising partners to maximize the impact of their campaigns by helping them take the utmost advantage of the interactivity and immediacy of our growing base of digital displays,” said Chief Executive Officer William Eccleshare. “Financially, our U.S. business performed well in the second quarter, as did our emerging markets, and we’re making progress in Europe, where the economic environment is still challenging. We continue to drive top line results across our asset portfolio, and our close focus on expenses demonstrated the attractive operating leverage in our business this quarter.”
About Clear Channel Outdoor Holdings, Inc.
Clear Channel Outdoor Holdings, Inc., (NYSE: CCO) is one of the world’s largest outdoor advertising companies, with more than 750,000 displays in over 40 countries across five continents, including 48 of the 50 largest markets in the United States. Clear Channel Outdoor Holdings offers many types of displays across its global platform to meet the advertising needs of its customers. This includes a growing digital platform that now offers over 1000 digital billboards across 37 U.S. markets. Clear Channel Outdoor Holdings’ International segment operates in nearly 30 countries across Asia, Australia, Europe and Latin America in a wide variety of formats.
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Certain statements in this release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Various risks that could cause future results to differ from those expressed by the forward-looking statements included in this release include, but are not limited to: changes in business, political and economic conditions in the United States and in other countries in which the Company currently does business (both general and relative to the advertising industry); changes in operating performance; changes in governmental regulations and policies and actions of regulatory bodies; changes in the level of competition for advertising dollars; fluctuations in operating costs; technological changes and innovations; changes in labor conditions; changes in capital expenditure requirements; fluctuations in exchange rates and currency values; the outcome of litigation; fluctuations in interest rates; taxes and tax disputes; shifts in population and other demographics; access to capital markets and borrowed indebtedness; risks relating to the integration of acquired businesses; and risks that we may not achieve or sustain anticipated cost savings. Other unknown or unpredictable factors also could have material adverse effects on the Company’s future results, performance or achievements. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this release may not occur. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this release. Other key risks are described in the Company’s reports and other documents filed with the U.S. Securities and Exchange Commission, including in the section entitled "Item 1A. Risk Factors” of Clear Channel Outdoor Holdings, Inc.’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Except as otherwise stated in this document, the Company does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise.