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Compared to Estimates, Clear Channel Outdoor (CCO) Q3 Earnings: A Look at Key Metrics
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Clear Channel Outdoor (CCO - Free Report) reported $526.79 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 12.6%. EPS of -$0.12 for the same period compares to -$0.08 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $596.79 million, representing a surprise of -11.73%. The company delivered an EPS surprise of -33.33%, with the consensus EPS estimate being -$0.09.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Clear Channel Outdoor performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenue- Americas: $278.76 million versus $279.29 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -19.6% change.
Geographic Revenue- Other: $23.10 million versus the three-analyst average estimate of $24.31 million. The reported number represents a year-over-year change of +34.4%.
Revenue- Europe-North: $149.37 million versus the two-analyst average estimate of $138.97 million.
Revenue- Airports: $75.56 million compared to the $75.44 million average estimate based on three analysts.
Adjusted EBITDA- Airports: $15.52 million versus the three-analyst average estimate of $15.46 million.
Shares of Clear Channel Outdoor have returned +0.9% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Clear Channel Outdoor (CCO) Q3 Earnings: A Look at Key Metrics
Clear Channel Outdoor (CCO - Free Report) reported $526.79 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 12.6%. EPS of -$0.12 for the same period compares to -$0.08 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $596.79 million, representing a surprise of -11.73%. The company delivered an EPS surprise of -33.33%, with the consensus EPS estimate being -$0.09.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Clear Channel Outdoor performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Geographic Revenue- Americas: $278.76 million versus $279.29 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -19.6% change.
- Geographic Revenue- Other: $23.10 million versus the three-analyst average estimate of $24.31 million. The reported number represents a year-over-year change of +34.4%.
- Revenue- Europe-North: $149.37 million versus the two-analyst average estimate of $138.97 million.
- Revenue- Airports: $75.56 million compared to the $75.44 million average estimate based on three analysts.
- Adjusted EBITDA- Airports: $15.52 million versus the three-analyst average estimate of $15.46 million.
View all Key Company Metrics for Clear Channel Outdoor here>>>Shares of Clear Channel Outdoor have returned +0.9% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.