iHeartMedia Falls 35%+ to Record Low on Q1 Revenue Miss
$iHeartMedia(IHRT.US$ sank more than 35% Thursday to an all-time intraday low after the radio giant missed analyst expectation for its Q1 revenues.
IHRT fell as much as 37% intraday to a record $1.36 low after the firm reported $799 million in revenues – short of the $805.9 million consensus that analysts had been expecting.
IHeartMedia also recorded a $0.12 loss per share for the quarter, although that beat the $0.55 in red ink that analysts had reportedly forecast.
IHRT has been long struggling with its stock price, which has fallen more than 95% since peaking in June 2021 intraday at $28.24.
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Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
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