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Clear Channel Outdoor Holdings Inc. (CCO) filed Quarterly Report for the period ended 2011-09-30.
Clear Channel Outdoor Holdings has a market cap of $3.99 billion; its shares were traded at around $11.21 with and P/S ratio of 1.43.
This is the annual revenues and earnings per share of CCO over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of CCO.
Highlight of Business Operations:
Our consolidated revenue increased $53.4 million during the third quarter of 2011 compared to the same period of 2010. Americas revenue increased $14.1 million, driven by increases in revenue across bulletin, airport, poster and shelter displays, particularly digital displays, as a result of our continued deployment of new digital displays and increased rates. Our International revenue increased $39.3 million, primarily from increased street furniture revenue across our markets and a $22.6 million increase from the impact of movements in foreign exchange.Our consolidated revenue increased $182.6 million during the first nine months of 2011 compared to the same period of 2010. Americas revenue increased $49.4 million, driven by increases in revenue across bulletin, airport and shelter displays, particularly digital displays, as a result of our continued deployment of new digital displays and increased rates. Our International revenue increased $133.2 million, primarily from increased street furniture revenue across our markets and a $76.9 million increase from the impact of movements in foreign exchange.
Direct operating expenses increased $69.6 million during the first nine months of 2011 compared to the same period of 2010. Americas direct operating expenses increased $18.1 million, primarily due to increased site lease expense associated with higher and bulletin airport revenue, particularly digital, and the increased deployment of digital displays. Direct operating expenses in our International segment increased $51.5 million, primarily from a $50.0 million increase from movements in foreign exchange.
SG&A expenses increased $16.7 million during the third quarter of 2011 compared to the same period of 2010. SG&A expenses increased $6.0 million in our Americas segment, primarily as a result of increased commission expense associated with the increase in revenue. Our International SG&A expenses increased $10.7 million primarily due to increased selling and marketing expenses associated with the increase in revenue in addition to a $4.3 million increase from movements in foreign exchange.
SG&A expenses increased $40.8 million during the first nine months of 2011 compared to the same period of 2010. SG&A expenses increased $7.1 million in our Americas segment, primarily as a result of increased commission expense associated with the increase in revenue. Our International SG&A expenses increased $33.7 million primarily due to a $15.0 million increase from movements in foreign exchange, a $6.5 million increase related to the unfavorable impact of litigation and increased selling and marketing expenses associated with the increase in revenue.
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