Clear Channel Outdoor (NYSE:CCO) announced its Q3 earnings on Thursday, October 31, 2024 at 06:00 AM.
Here's a breakdown of the earnings report.
Earnings
Clear Channel Outdoor missed estimated earnings by 0.0%, reporting an EPS of $-0.06 versus an estimate of $-0.06.
Revenue was up $32.20 million from the same period last year.
Previous Earnings Records
The company beat on EPS by $0.01 in the previous quarter, leading to a 3.0% drop share price change the next day.
Here's a look at Clear Channel Outdoor's past performance:
| Quarter | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|
| EPS Estimate | -0.06 | -0.05 | -0.17 | 0.04 | -0.08 |
| EPS Actual | -0.06 | -0.04 | -0.17 | 0.05 | -0.11 |
| Revenue Estimate | 557.41M | 562.37M | 478.55M | 610.14M | 594.92M |
| Revenue Actual | 558.99M | 558.54M | 481.75M | 632.11M | 526.79M |
Peer Companies' Recent Earnings
It's important to consider Clear Channel Outdoor's numbers in relation to how its competitors, like PubMatic, TechTarget, and National CineMedia, have been performing.
The latest earnings announcement from PubMatic on August 08, 2024 exceeded expectations, with an actual EPS of $0.17 compared to the market's estimate of $-0.02, resulting in a 950.0% increase. TechTarget, earnings revealed on August 08, 2024, exhibited robust performance this quarter. Contrary to the market's projected EPS of $0.4, TechTarget exceeded expectations with an EPS of $0.42, reflecting an increase of 5.0% compared to estimates. This outcome is likely to gain investor confidence On November 05, 2024, National CineMedia unveiled earnings that were below market expectations, with an actual EPS of $-0.04 compared to an estimated EPS of $-0.03, resulting in a -33.33% decrease. Analysis of Competitors' Quarterly Earnings and Stock Performance
Insights into the market's response to the latest earnings releases of key competitors are provided in this analysis. It highlights the expected and announced earnings per share (EPS) for each company, along with their corresponding stock prices at the close of the announcement day and the open of the following trading day.
| Company Name | Date | EPS Expected | EPS Announced | EPS Change Percent | Stock Price At Close | Stock Price at Next Day Open | Price Change Percent |
|---|---|---|---|---|---|---|---|
| Clear Channel Outdoor | October 31, 2024 | -0.06 | -0.06 | 0.0% | $1.47 | $1.48 | 0.68% |
| PubMatic | August 08, 2024 | -0.02 | 0.17 | 950.0% | $19.6 | $13.82 | -29.49% |
| TechTarget | August 08, 2024 | 0.40 | 0.42 | 5.0% | $29.02 | $28.38 | -2.21% |
| National CineMedia | November 05, 2024 | -0.03 | -0.04 | -33.33% | $7.3 | $7.35 | 0.68% |
Peer Revenue Comparison: Estimated vs. Announced Revenue
The following table compares estimated and announced revenue figures for Clear Channel Outdoor's peers. This comparison provides insights into the revenue performance of these companies, offering valuable context to understand their financial standing within the industry.
| Company Name | Estimated Revenue | Announced Revenue | Revenue Surprise Percentage |
|---|---|---|---|
| Clear Channel Outdoor | 557.41M | 558.99M | 0.28% |
| PubMatic | 70.12M | 67.27M | -4.07% |
| TechTarget | 58.08M | 58.91M | 1.44% |
| National CineMedia | 58.02M | 62.40M | 7.55% |
To track all earnings releases for Clear Channel Outdoor visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
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