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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
May 05, 2004
Page
5
Clear Channel Communications Inc. reported a 64 percent increase in first quarter earnings from the prior year. The results reflect improved performance across its media assets and national advertising operations.
San Antonio based Clear Channel Communications Inc posted a 64 percent rise in first quarter profit to 116.5 million or 19 cents a share from 71 million or 12 cents a year earlier driven by asset sales and stronger outdoor advertising revenue. Revenue grew 11 percent to 1.97 billion. CEO Lowry Mays underwent brain surgery with a full recovery anticipated. son Mark Mays noted improvements in operating divisions and cash flow. Outdoor ad revenue jumped 16 percent to 521.6 million.
Walgreen Co. rapid expansion across America bets on aging baby boomers and prescription sales. The chain opens a new Walgreens roughly every 19 hours while focusing on standalone stores and 24 hour pharmacies to extend its lead over CVS and rivals in the Sun Belt and beyond.
At the hardware developers conference in Seattle Microsoft executives pitched a vision of computerized experiences in homes, offices, and cars with digital music, movies, and communications. They acknowledged ongoing security problems highlighted by the Sasser worm and urged fixes and fundamentals before broad adoption. Bill Gates previewed an upcoming Windows security update, Service Pack 2, noting optimism it will be in place this year. The company urged hardware makers to align with its platform, including video recording cell phones and biometric remote controls as part of daily planning and sharing, while stressing security as essential to the vision.
Sony Corp. unveiled Sony Connect a download service with over 500 000 tracks aiming to spur sales of its portable audio players. Tracks start at 99 cents albums at 9.99 as analysts note Sony faces competition from Napster iTunes and other pay sites. Sony hopes to attract new fans beyond iPod users though ATRAC3 format compatibility could limit uptake. Officials say the online market remains developing with room for Sony to gain share.
Sprint introduces a 49.95 monthly wi fi service as its first fixed plan facing competition from cheaper or free alternatives. T-Mobile charges 29.99 monthly and offers lower daily rates while Verizon Online provides free access at its wi fi hot spots in New York City. Sprint highlights targeting business professionals with high data needs and an unlimited plan for power users.
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