Clear Channel Communications released its leading forgiveness monetary results, with $1.6 billion in revenue, a four percent augment over Q1 of newest year. Expenses grew by eight percent to $1.1 billion during the quarter.
Income before discontinued operations grew 70 percent to $161.4 million. Clear Channel Radio interest was down $29.6 million during Q1. Declines in nearby and nationalistic return were partly make up by increases in traffic, online and syndicated ghetto-blaster revenue.
Revenue fall-off was also attributed to appetite in advertising overall, along with the auto, retail and services ad markets. "We continued to knock off on our vital scheme during at the outset spot in the mush of a challenging macro-economic climate," commented CEO Mark Mays. "While our results were specious by the pastel advertising market, we continued to out-deliver the mass of our media determination peers.
Our Outdoor results benefited from the worldwide diversification of our footprint, as well as our relentless efforts to distend our digital presence. We are solidly on street in rolling out our digital fitting plan, which continues to corroborate our long-term wart potential. Our portable operations out-performed the manhood of our markets in the thirteen weeks and we continued to lay out in our soothe and online assets in an exploit to strengthen our value proposal to both our listeners and advertisers. We maintain our concerted investment strategy will leaning our businesses for growth over the long-term.
" Saga Communications byword its Q1 pocket operating revenue dip to a certain to $31.5 million. Radio fretwork revenue declined by $512,000 to approximately $27.4 million. Net return was up by 23 percent to $910,000.
First zone gate for Salem Communications dropped 1.3 percent to $54.5 million, though web revenue increased from $3 million to $5 million. The company's broadcasting branch catch-phrase Q1 '08 take give 3.2 percent to $48.4 million.
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