Excluding the effects of foreign exchange, international revenue was $386.8m (£244.7m) in the three months to 30 June 2010, up 2.7% from $376.6m in the same period of 2009.
Clear Channel said strong revenue performance from billboards in the UK, as well as from street furniture across most countries, was partially offset by the exit from transit contracts in Spain and from businesses in Greece and India.
The consolidated net income – adjusted to exclude non-cash compensation expense (OBIDAN) at the international division of Clear Channel Outdoor – was $70.2m, excluding the impacts of foreign exchange in the three months to 30 June 2010, up 10.3% year on year.
Worldwide revenue in the three months to the end of June 2010 was $701.4m, up 1.3% compared with the same period of 2009. Excluding the effects of foreign exchange, revenue would have been up 2%.
Clear Channel Outdoor made a worldwide loss before income taxes of $3.2m in quarter two, an improvement of 99.6% from a loss before income taxes of $822.5m in Q2 2009. Included in the 2009 results are impairment charges of approximately $812.4m.
Mark Mays, chief executive of Clear Channel Outdoor, said: "We remain optimistic about our growth prospects for the full year, given the strong trends that have continued into the current quarter.
"We are focused on driving ongoing innovation across our platform and maximizing our ability to deliver results for our advertising partners. As the global advertising market continues to recover, we believe we are well positioned to grow and generate increased cash flow."
In June, Clear Channel Outdoor’s parent group Clear Channel Communications, announced Mays will step down from his role as president and chief executive when a replacement is found. He will remain chairman of the board of directors.
Clear Channel said strong revenue performance from billboards in the UK, as well as from street furniture across most countries, was partially offset by the exit from transit contracts in Spain and from businesses in Greece and India.
The consolidated net income – adjusted to exclude non-cash compensation expense (OBIDAN) at the international division of Clear Channel Outdoor – was $70.2m, excluding the impacts of foreign exchange in the three months to 30 June 2010, up 10.3% year on year.
Worldwide revenue in the three months to the end of June 2010 was $701.4m, up 1.3% compared with the same period of 2009. Excluding the effects of foreign exchange, revenue would have been up 2%.
Clear Channel Outdoor made a worldwide loss before income taxes of $3.2m in quarter two, an improvement of 99.6% from a loss before income taxes of $822.5m in Q2 2009. Included in the 2009 results are impairment charges of approximately $812.4m.
Mark Mays, chief executive of Clear Channel Outdoor, said: "We remain optimistic about our growth prospects for the full year, given the strong trends that have continued into the current quarter.
"We are focused on driving ongoing innovation across our platform and maximizing our ability to deliver results for our advertising partners. As the global advertising market continues to recover, we believe we are well positioned to grow and generate increased cash flow."
In June, Clear Channel Outdoor’s parent group Clear Channel Communications, announced Mays will step down from his role as president and chief executive when a replacement is found. He will remain chairman of the board of directors.
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