CCO - Clear Channel Outdoor rallies on Q3 revenue beat; Q4 America booking activity stable

Clear Channel Outdoor Holdings ([[CCO]] +19.0%) reported Q3 net loss of $135.8M vs. $212.4M in the year ago quarter.Despite revenue dipped 31.5% to $447.51M, it beat estimates by $37M; segment-wise, Americas and Europe were down 31.8% and 13.4% respectively.In September 2020, the company initiated restructuring plans with expected pre-tax annual cost savings of ~$32M; total charges for the plans in the range of ~$23 to $26M.As of Sep.30, CCO incurred ~$7.2M in charges related to these plans."While we obviously cannot predict the pandemic's future trajectory, we remain focused on the strong medium and long-term opportunities within our sector and our ability to generate growth in 2021 and beyond," CEO William Eccleshare commented.Until now in Q4, the company's Americas segment customer booking activity is slightly better when compared to the bookings seen in Q3; Europe segment booking activity is volatile with recent mobility restrictions in Europe; Latin America bookings are showing improvement but continue

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Clear Channel Outdoor rallies on Q3 revenue beat; Q4 America booking activity stable