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NEW YORK--(BUSINESS WIRE)--iHeartMedia, Inc. (NASDAQ: IHRT) announced today that on Tuesday May 2nd, 2023, it will issue financial results for the quarter ending March 31, 2023. The company will conduct a conference call at 8:30 a.m. (ET), following the release of its earnings announcement to discuss its financial results and business outlook. A live audio webcast of the call will be available on the Investors homepage of iHeartMedia's website (https://investors.iheartmedia.
On Monday, SEC filings revealed that three executives had bought an enormous amount of iHeartMedia (NASDAQ: IHRT ) stock. Together, the firm's CEO, CFO and chief accounting officer snapped up over 190,000 shares worth $1.05 million.
iHeartMedia (IHRT) delivered earnings and revenue surprises of 20% and 1.53%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
iHeartMedia, Inc. (NASDAQ:IHRT ) Q4 2022 Earnings Conference Call February 28, 2023 4:30 PM ET Company Participants Mike McGuinness – Head-Investor Relations Bob Pittman – Chairman and Chief Executive Officer Rich Bressler – President, Chief Operating Officer and Chief Financial Officer Conference Call Participants Steven Cahall – Wells Fargo Dan Day – B. Riley Securities Jim Goss – Barrington Sebastiano Petti – JPMorgan Operator Good day, everyone.
The companies are expanding services driven by algorithms and generative AI as the presence of artificial intelligence in the world of music streaming increases.
Craig Ferguson signed a deal with iHeartMedia for his first podcast.
IHRT stock is down 70% over one year, but it doesn't make this a cheap stock. A combination of radio ad revenue decline and operating leverage will pressure the EBITDA.
IHRT is a deleveraging story that we think could hit an inflection point in the next 12-24 months. Management's decision to focus on repurchasing the unsecured debt increases FCF now and provides flexibility, and potentially lower interest rates, moving forward.
The Federal Trade Commission this week announced that it has settled lawsuits against Google and iHeartMedia relating to “deceptive endorsements” of the Pixel 4 phone. According to a statement issued by the FTC, nearly 29,000 ads were aired featuring radio personalities.