Clear Channel Outdoor Holdings, Inc. reported its financial results for the fourth quarter and year ended December 31, 2017. Consolidated revenues for Q4 2017 were $729.1 million, an increase of 0.9%, compared to $722.5 million in Q4 2016. Consolidated operating income for Q4 2017 was $89.5 million, down 64.3%, compared to $250.8 million in Q4 2016.
Revenues for fiscal 2017 were $2.59 billion, a decrease of 3.6%, compared to $2.68 billion in fiscal 2016. Consolidated operating income was $232.4 million, down 63.5%, compared to $637.4 million in fiscal 2016.
In fiscal 2017, both American outdoor and International outdoor segments performed negatively. American outdoor revenues decreased $22.1 million, or 1.7%. On the other hand, International outdoor saw decline in revenues of $75.5 million during 2017 as compared to 2016.
Company said that the decline in revenues was driven by the movements in foreign exchange rates.
