Get the latest gossip
iHeartMedia Shares Tumble 36% Following Quarterly Results, Outlook
iHeartMedia shares fell 36.1% on Thursday after the company’s first-quarter earnings showed continued uncertainty in broadcast advertising.
iHeartMedia shares fell 36.1% on Thursday after the company’s first-quarter earnings showed continued uncertainty in broadcast advertising mixed with improvements in its digital business. CEO Bob Pittman and COO and CFO Rich Bressler reminded listeners to Thursdays’ earnings call that the first quarter is historically the slowest period of the year. First-quarter FCF did not include the $101 million iHeartMedia received from the sale of BMI to New Mountain Capital in February.
Or read this on Billboard
