Clear Channel Posts Wider-Than-Expected Third-Quarter Loss

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Clear Channel

(CCU) - Get Report

lost $232.2 million, or 39 cents a share, in its third quarter, four cents wider than analysts' expectations, on a continued advertising slump.

The San Antonio radio company said third-quarter cash flow was 71 cents a share, slightly above the consensus estimate, and earnings before interest, taxes, depreciation and amortization of $556 million. Revenue was $2.3 billion in the latest quarter, up 46% from a year ago.

For the full year, the company expects to post

EBITDA of $1.7 billion.