Clear Channel Outdoor Holdings Reports Results for 2016 Fourth Quarter and Full Year
San Antonio, Texas - February 23, 2017 — Clear Channel Outdoor Holdings, Inc. (NYSE: CCO) today reported financial results for the fourth quarter and year ended December 31, 2016.
“We continue to invest in transforming our Americas and International outdoor businesses to more effectively compete in an increasingly digital world,” said Bob Pittman, Executive Chairman and Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. “Both Americas outdoor and International outdoor made great progress in building out their industry-leading data-rich, analytics capabilities and programmatic ad-buying solutions to do business in the same way that the advertising industry does today while expanding their digital networks and winning new contracts.”
“We are pleased with the successful execution of our strategic initiatives this year,” said Rich Bressler, Chief Financial Officer of Clear Channel Outdoor Holdings, Inc. “In the fourth quarter and full year 2016, consolidated revenue declined and operating income increased. However, excluding the impact of the 2016 sales of certain U.S. markets and International businesses as well as foreign exchange, Americas outdoor and International outdoor revenues, operating income and OIBDAN all increased. Throughout 2016, we continued to invest in innovative products at both businesses for the benefit of our audiences and partners while maintaining tight operating and financial discipline.”