• April 30, 2007

Clear Channel Communication's profits rose 5.6% in the first quarter of 2007 to $102.2 million, the company announced Thursday. Total revenue rose 8% to $1.61 billion. Its earnings of 21 cents per share exceeded analysts' estimates of 15 cents per share by over 33%. Clear Channel Chief Executive Mark Mays said in a statement: "The company delivered solid first-quarter results, and we are very pleased with our overall performance." Within the company's various divisions, outdoor ad revenue rose 15% to $690.9 million, while income doubled to $16.1 million. Radio revenue rose 3% to $819.7 million. Although these strong first-quarter figures should be good news, the company's profitability makes it less likely that shareholders will approve a proposed private-equity buyout May 8. --Erik Sass