Clear Channel Communications
reported third-quarter net income of $448.9 million, or 96 cents a diluted share, and said all operating segments contributed to the results, led by radio and outdoor advertising.
In the latest third quarter, the company recorded a gain of $499.2 million after taxes from the sale of certain radio stations divested in order to secure the approval of the
Federal Communications Commission
Department of Justice
for the merger with
First Call/Thomson Financial
, analysts were expecting Clear Channel to lose 5 cents a share in the quarter, but the company didn't provide a comparable figure. The company earned $1.5 million in the year-ago period.
Clear Channel reported gross revenue of $1.68 billion, compared with $887.9 million in the year-ago period.
The company completed the merger with AMFM on Aug. 30 and closed the acquisition of
on Aug. 1.