Friday May 9, 12:44 PM
Clear Channel Communications reports profit, revenue jump
NEW YORK (AP) - Radio broadcaster Clear Channel Communications Inc (NYSE: CCU - news) . says its profit soared in the first quarter while revenues
rose 4 percent.
The San Antonio-based company said Friday it earned $799.7 million or $1.61 per share in the first three months of the year. That is well above the $102.2 million or 21 cents per share it earned in the same period a year ago.
Clear Channel just completed the sale of a TV station group and is in the process of trying to go private.
Without discontinued operations, earnings rose 70 percent to $161.4 million or 32 cents a share from $95.1 million or 19 cents per share a year earlier.
Revenues rose 4 percent to $1.56 billion from $1.51 billion.
Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
NNNN
|
Send Article by Email
