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Mar 31, 2023
Clear Channel Q1 2023 Earnings Report
Clear Channel Outdoor Holdings reported solid first quarter consolidated results driven by continued strong execution and healthy advertiser demand, particularly for digital assets. The company completed the divestiture of its business in Switzerland and plans to use the net proceeds to improve its liquidity position.
Key Takeaways
Clear Channel Outdoor Holdings reported a 3.8% increase in consolidated revenue to $545.4 million for Q1 2023, driven by strong execution and healthy advertiser demand. The company's net loss decreased by 60.5% to $(35.4) million. They completed the sale of their Switzerland business.
Consolidated revenue increased by 3.8% to $545.4 million.
Net loss decreased by 60.5% to $(35.4) million.
Digital revenue increased in America by 3.6% to $78.0 million.
Completed the divestiture of the business in Switzerland.
Revenue by Segment
Forward Guidance
The company expects consolidated revenue between $635 million and $660 million for the second quarter of 2023. Full year 2023 guidance includes consolidated revenue between $2,500 million and $2,625 million, consolidated net loss between $(95) million and $(40) million, and Adjusted EBITDA between $525 million and $585 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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