Clear Channel Profits Fade

10 August 2006

SAN ANTONIO, TEXAS: US radio station giant Clear Channel Communications says its second quarter earnings fell 11% on higher operating expenses, even as revenue rose on strong results from its radio and outdoor advertising segments.

Net income fell to $197.5 million (€153m; £103m) from $220.7m in the year-ago period. Revenue rose 7% to $1.85bn from $1.72bn, beating analyst' estimates.

Revenue rose 6% to $983.5m at the radio broadcasting unit, while outdoor advertising posted a 9% hike in sales.