CC Media Holdings, the parent company of Clear Channel Communications, reported Friday (5/6) that Q1 revenues grew 5% to $1.32 billion. Outdoor led the way, but all divisions, including CC Radio, had an up quarter.
Radio revenue increased 3% to $640.4 million and radio operating income before depreciation, amortization and non-cash compensation (OIBDAN) shot up 15% to $223.1 million as expenses decreased by 3%.
Domestic outdoor revenues rose 7% to $289.3 million and OIBDAN rose 5% to $93.6 million.
International outdoor revenues were up 7% to $360.9 million, with OIBDAN up 41% to $45.1 million.
For the entire company, Q1 OIBDAN rose 20% to $314 million.