CCC 2Q Earnings Dip

Second-quarter earnings for Clear Channel Communications fell more than 10 percent on higher operating expenses, although revenue from radio and outdoor advertising rose by 7 percent.

The company’s net income of 39 cents per share ($197.5 million) in the last quarter fell two cents short of Wall Street expectations, according to Thomson Financial.

Meanwhile, Live Nation, the company Clear Channel spun off less than nine months ago to focus on its core business, announced second-quarter increases in revenue and profit.