Clear Channel Outdoor Holdings (CCO) Reports Q4 Revenues Beat

Clear Channel Outdoor Holdings (NYSE: CCO) reported Q4 revenue for the quarter came in at $541.39 million versus the consensus estimate of $495.93 million.

"We believe we have entered 2021 in a strong position to capitalize on the expected recovery across our markets as we gradually emerge from the global pandemic," said William Eccleshare, Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. "The range of actions we have taken during the past year, from strengthening our liquidity, refinancing debt and addressing our cost base, to the adjustments we've made to our sales approaches and the continued expansion of our digital platform and data analytics products, have strengthened our organization and enhanced our ability to execute on our long-term growth plan."

Mr. Eccleshare added, "We have diligently pursued the digital transformation of our business, enhancing our ability to develop, execute and measure highly creative and engaging ad campaigns to reach the right audiences at the right time and place – and forging deeper relationships with our customers as a result. We are demonstrating the flexibility and immediacy of our digital platform in using data to deliver real-time content changes depending on audience traffic patterns, weather, daypart and other relevant variables. We are also making further advances into the programmatic arena, which is expanding our access to new revenue opportunities.

"Looking ahead, we remain focused on maximizing our performance in the current uncertain environment, while continuing to invest in our technology to strengthen and expand the effectiveness of our assets. Supported by solid liquidity on our balance sheet, we remain well positioned to amplify the fundamental opportunities inherent in our business model, as we pursue our priorities of revenue expansion, free cash flow generation, debt reduction and investments in profitable growth."

For earnings history and earnings-related data on Clear Channel Outdoor Holdings (CCO) click here.

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