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Clear Channel Posts Positive Q2 Performance

Clear Channel Posts Positive Q2 Performance

Clear Channel Communications posted net revenues of $2.2 billion for Q2, and increase of 126% over Q2 of last year. After tax cash flow rose 73% for the quarter to $470 million when compared to the same period a year ago.
“We are pleased with our results during, what continued to be, a difficult advertising environment,” said chairman and CEO Lowry Mays.
The radio division reported a revenue increase of 96% to $941 million for Q2. During the second quarter, Clear Channel continued the integration of AMFM Inc.
The continued integration of AMFM, coupled with strong ratings gains in a majority of its markets, positions the radio division to continue positive performance, stated the company.