Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of outdoor advertising company Clear Channel Outdoor
So what: For the quarter, Clear Channel Outdoor reported a marginal boost of 0.1% in revenue to $651 million while losses widened from the year-ago period to $0.14 from $0.03. Both figures fell shy of Wall Street's consensus estimate for a loss of $0.08 on $662.1 million in revenue. The company cited weak international revenue in Europe as the main reason for the drop in earnings. International sales accounted for 56% of Clear Channel Outdoor's revenue in the first quarter.
Now what: This is becoming a nasty trend given that Lamar Advertising
Craving more input? Start by adding Clear Channel Outdoor to your free and personalized watchlist so you can keep up on the latest news with the company.