Clear Channel Outdoor Holdings (NYSE: CCO) reported Q1 EPS of $. Revenue for the quarter came in at $370.91 million versus the consensus estimate of $386.66 million.

"During the first quarter, we continued to execute on our strategy to maximize the revenue potential of our global portfolio and optimize our ability to take full advantage of the economic recovery," said William Eccleshare, Chief Executive Officer of Clear Channel Outdoor Holdings, Inc. "Our financial results were in line with our expectations and reflect the continued impact of the pandemic on global advertising spend coupled with a tough comparison against our strong performance in the comparable period last year. We are beginning to see improvement in mobility and advertising activity across many of our markets as the vaccination process gains traction and restrictions are eased. We expect the market environment to continue to improve as the year progresses, with consolidated revenue returning to growth in the second quarter as compared to the prior year.

"Looking ahead, we are continuing to direct our investments in technology, including expanding our digital platform and further strengthening our data analytics and programmatic capability, with the aim of maximizing the potential of our digital boards. As we elevate our ability to demonstrate the effectiveness of our assets in influencing consumer behavior and continue to make our inventory easier to buy, we will look to expand our revenue growth potential. At same time, we will continue to carefully manage our costs, while preserving our liquidity as we navigate the evolving macroeconomic climate and focus on driving profitable growth over the long-term."

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