Clear Channel Outdoor Holdings, Inc. Reports Results for 2013 Third Quarter
– Revenue declined 1%year over year to $723 million, and OIBDAN1 decreased 5% to $169 million, excluding foreign exchange and divestitures
– Americas revenue and OIBDAN both declined 1%, excluding foreign exchange
– International revenue was down 1%, and OIBDAN declined 8%, excluding foreign exchange and divestitures
San Antonio, November 7, 2013…Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) today reported financial results for the third quarter ended September 30, 2013.
We’re confident that we’re taking the right steps – including increased digital investment – to position us for out-of-home’s future growth.
“Every day, we become more excited about the potential of our outdoor business due to our new and expanded relationships with advertisers, as well as advanced technologies and the evolving trend of people spending more time out-of-home than they ever have before,” said Bob Pittman, Executive Chairman of Clear Channel Outdoor Holdings, Inc. “We’re pleased with the business’s core metrics and prospects for future growth, while we continue to adjust – and invest in – our global portfolio to increase exposure to faster-growing regions. Two recent campaigns to launch new albums for Paul McCartney and Lady Gaga underscored the power of our global reach and ability to deliver for clients across our multi-platform assets, something that only Clear Channel can do.”
“There’s incredible innovation in the out-of-home advertising sector to reach mobile consumers in that important moment before – and during – purchase, and Clear Channel is leading it,” said Chief Executive Officer William Eccleshare. “We are a true mobile media company working at our collaborative best to deliver audiences with the right demographics for clients. Outdoor is becoming the ‘fourth screen’ that makes our clients’ other campaigns more effective and efficient than ever. During the quarter, we saw improving trends internationally, especially in our emerging markets, such as China, Singapore, Brazil and Chile, as well as in Australia and the UK. We’re confident that we’re taking the right steps – including increased digital investment – to position us for out-of-home’s future growth.”
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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