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Clear Channel Outdoor Holdings (CCO)

Stock (Marketing Services Industry, Media & Entertainment Industry)

Softening real estate market lowers ad revenue Clear Channel Outdoor Holdings missed analyst earnings expectations by 1 cent July 27th, Then on Aug 7, competitor Lamar Advertising reported earnings significantly below expectations due to the weakening housing market. Real estate ads make up 9% of Lamar's revenue. Concerns that Clear Channel could be impacted as well sent the stock lower. Earnings Announcement CCO announces higher 1Q profits.

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