International media group Clear Channel Communications yesterday reported a fall in profits for the first quarter despite a small increase in revenues
Net earnings in the three months to March 31 2003 totalled $71 million, down from $90.3 million in the same period last year. Revenues crept up from $1.70 billion to $1.78 billion.
Clear Channel reaped the benefits from a number of acquisitions with revenues at the outdoor unit up by 22% to $451 million while the radio division experienced 1.6% growth to $795 million.
