Clear Channel Profits Up Slightly

Jul 23, 2004  •  Post A Comment

Clear Channel Communications, the radio titan that also owns 36 television stations, on Friday reported a slight increase in second-quarter profit, up 1 percent to $253.8 million, or 41 cents a share, versus $251.3 million, or 41 cents a share, a year ago.

Revenue advanced 7 percent to $2.5 billion.

The San Antonio-based company does not break out the performance of its TV stations, opting instead to include its station group in a category it calls “other.” However, CEO Mark Mays said the company’s stations performance was “extremely strong” in the second quarter. The “other” category reported an 8 percent increase in revenue to $150 million, while expenses rose 7 percent to $116.4 million.