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Clear Channel Outdoor releases financial report for 2018

March 19, 2019

Clear Channel Outdoor Holdings Inc. recently released its financial report for the last quarter of 2018 and the entire year. The report revealed a boost in Americas outdoor advertising of $28.3 million in 2018, according to a press release.

The company saw a consolidated revenue increase by 2.6 percent in the fourth quarter and 5.1 percent in 2018. Other findings include:

• International outdoor revenue $74.2 million in 2018.
• Operating income increased 20.4 percent to $116.5 million in Q4 2018 due to growth in Americas business.
• Operating income increased 8.4 percent to $251.8 million in 2018.

"We believe the steps we have taken to strengthen Clear Channel Outdoor's operations through the investments in our strategic initiatives and our financial discipline led to the strong results this year and the recent successful refinancing of the $2.2 billion of Senior Subordinated Notes," Rich Bressler, CFO, Clear Channel Outdoor, said in the release.