San Antonio, TX, April 24, 2019 – Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) today reported financial results for the first quarter ended March 31, 2019.
“We have carried our momentum from 2018 into the new year by continuing to focus on our sales execution and strategic growth initiatives, including building our digital network, expanding our programmatic offerings and enhancing our data analytics,” said Bob Pittman, Executive Chairman and Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. “We’re proud of Clear Channel Outdoor’s leadership in the growing OOH industry. As they prepare to become a standalone public company led by CEO William Eccleshare, we believe the new executive team and incoming Board of Directors are poised to capitalize on the opportunities in the out-of-home medium, which continues to resonate with advertisers and marketers.”
“In the first quarter, our consolidated revenue declined due to the impact of foreign exchange, while operating income and OIBDAN increased, led by our Americas segment,” said Rich Bressler, Chief Financial Officer of Clear Channel Outdoor Holdings, Inc. “The strength in the Americas business speaks to the success of our growth initiatives. Looking ahead, Clear Channel Outdoor is prepared to continue to grow and build on its status as a global market leader through its ongoing investment in innovative technologies.”