Clear Channel Communications Inc’s parent company, CC Media Holdings Inc’s second quarter revenues have been released. Reports show that the company finished the second quarter of 2010 with an $86.3 million net loss, which is significantly down from the $3.7 billion net loss during the same quarter of last year.”
However, the company also posted a $1.49 billion revenue during the second quarter. That’s up from the $1.4 billion posted during the same quarter of last year.
“Our second quarter results reflect the positive impact of the global advertising market recovery combined with the ongoing execution of our strategic plan to maximize our performance and improve profitability across our operations,” said President and CEO of CC Media Holdings, Mark Mays.Clear Channel Posts $86.3 Million Net Loss During 2nd Quarter 2010 And $1.49 Billion In Revenue by Harrison Barnes