Clear Channel Outdoor Holdings, Inc. Reports Results for 2015 Fourth Quarter and Full Year
San Antonio, February 25, 2016 – Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) today reported financial results for the fourth quarter and full year ended December 31, 2015.
“Over the past year, we have made great progress in aligning our Americas and International portfolios to focus on our most attractive strategic opportunities, while continuing to invest in our conversion to digital,” said Bob Pittman, Executive Chairman and Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. “With consumers out of their homes more than ever, we look forward to both Americas and International increasingly developing the critical programmatic and data capabilities to deliver powerful new value to our advertising and agency partners.”
“Despite headwinds and excluding the impact from movements in foreign exchange rates – both our Americas and International segments posted solid revenue growth for the quarter and the full year,” said Rich Bressler, Chief Financial Officer of Clear Channel Outdoor Holdings, Inc. “In fact, Americas delivered its biggest quarter in a half-decade in terms of revenue and OIBDAN. The recent sale of nine non-strategic U.S. operations will enable us to focus more on those markets positioned to contribute to our future growth. At International, we’re pleased with our performance across the board – especially our ability to navigate successfully through the challenges of certain overseas economies.”