Revenue during the quarter dropped 3.33 percent to $673.06 million from $696.28 million in the previous year period. Gross margin for the quarter contracted 86 basis points over the previous year period to 45.61 percent. Total expenses were 90.97 percent of quarterly revenues, down from 92.39 percent for the same period last year. This has led to an improvement of 142 basis points in operating margin to 9.03 percent.

Operating income for the quarter was $60.79 million, compared with $53.01 million in the previous year period.

"In this quarter, our Americas and International outdoor businesses continued to invest in building programmatic buying platforms and developing new research analytics tools to help ensure our place with our advertisers in an increasingly digital world" said Bob Pittman, chairman and chief executive officer of Clear Channel Outdoor Holdings, Inc. "To stay as competitive as possible, we believe it’s critical to do business with advertising and marketing partners in the same way that the digital advertising industry does today. And, we continue to invest in our digital out-of-home network to expand our ability to offer innovative solutions to our marketing partners."