Company: CCO
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001334978-25-000012
Chunk: 45

Company: Clear Channel Outdoor Holdings, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 45
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 2025 compared to the same period in 2024. The increase was driven by strong national advertising demand, most notably at Louis Armstrong New Orleans International Airport, which benefited from Super Bowl LIX. 

Overall, strong growth in digital revenue was partially offset by a decline in print revenue. The table below provides additional information about Airports digital revenue:

(In thousands)Three Months EndedMarch 31,%20252024ChangeDigital revenue$49,257$42,61015.6%Percent of total segment revenue61.6 %55.4 %

National sales accounted for 64.6% and 55.2% of Airports revenue for the three months ended March 31, 2025 and 2024, respectively, with the remainder derived from local sales.

Airports Direct Operating Expenses

Airports direct operating expenses increased by $7.0 million, or 14.4%, during the three months ended March 31, 2025 compared to the same period in 2024. This increase was driven by higher site lease expense, primarily due to lower rent abatements and revenue growth. 

24

The table below provides additional information about Airports site lease expense and rent abatements:

(In thousands)Three Months EndedMarch 31,%20252024ChangeSite lease expense$51,238 $44,013 16.4%Reductions of rent expense on lease and non-lease contracts from rent abatements299 4,799 (93.8)%

Airports SG&A Expenses

Airports SG&A expenses increased by $0.7 million, or 7.8%, during the three months ended March 31, 2025 compared to the same period in 2024. This increase was primarily driven by higher payment processing fees, employee compensation and credit loss expense.

Income (Loss) from Discontinued Operations

Discontinued operations for the three months ended March 31, 2025 and 2024 reflect the results of our businesses in Spain, Europe-North and Latin America through their respective dates of sale, where applicable.

Income from discontinued operations was $118.5 million for the three months ended March 31, 2025, compared to a loss of $19.9 million for the same period in 2024. The current-period income was primarily driven by a gain of $139.6 million primarily related to the sales of our businesses in Mexico, Peru and Chile and our former Europe-North segment