Clear Channel Outdoor Holdings, Inc. reported a third quarter loss of $34.4 million, as revenue declined 19% from a year earlier to $660.6 million. In the same quarter last year, earnings were $9.1 million on revenue of $813.4 million.
The loss was slightly worse than what was expected by analysts, who projected revenue of $664.9 million.
Clear Channel has been battling an extremely weak advertising market, brought about by the U.S. recession. European revenue performance was even weaker, declining 22% from a year ago.
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