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Iheartmedia Inc Down 0.12% To $8.58 After Earnings Beat

Friday, August 05, 2022 01:05 PM | InvestorsObserver Analysts
Iheartmedia Inc Down 0.12% To $8.58 After Earnings Beat

Iheartmedia Inc (IHRT) said after close Thursday that it earned $0.1 per share in quarter two 2022.

On the revenue line, the company reported $954 million, missing estimates by $1.9 million.

In the same quarter a year ago, the company lost $0.16 per share on revenue of $861.6 million.

The stock is down 0.12% to $8.58 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Iheartmedia Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 11, putting Iheartmedia Inc in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $6.43 on July 14, 2022 and set a 52-week high on August 6, 2021 at $27.62.

iHeartMedia Inc is a US-based diversified media and entertainment company. It operates through the segments of the Multiplatform Group, the Digital Audio Group and the Audio & Media Services Group. The company derives prime revenue from the Multiplatform Group segment which includes the company's Broadcast radio, Networks and Sponsorships and Events businesses. The Digital Audio Group segment includes all of the company's digital businesses, including podcasting; and the Audio & Media Services Group includes Katz Media Group, a full-service media representation business, and RCS Sound Software, a provider of scheduling and broadcast software and services.

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