Clear Channel Radio Revenues Down 6% For Q4
February 21, 2006 at 6:20 AM (PT)
Revenue fell 1% to $1.76 billion and radio revenue was off 6% to $909.4 million for CLEAR CHANNEL COMMUNICATIONS in fourth quarter 2005, the company reported TUESDAY.
Profits rose from 2004's loss of $4.67 billion (loss of $8.15/share) to a gain of $461.6 million (86 cents/share), but excluding discontinued operations and major accounting charges that affected 2004's numbers, profits fell from 40 to 34 cents/share.
The company's radio revenue decline was greater than the industry's pace of a 3% drop. Outdfoor advertising rose 7% to $734.6 million.