IHeartMedia (IHRT) Reports Q3 Loss, Tops Revenue Estimates

Core Insights - iHeartMedia reported a quarterly loss of $0.16 per share, significantly worse than the Zacks Consensus Estimate of a$0.02 loss, marking a 900% earnings surprise [1] - The company's revenues for the quarter ended September 2024 were $1.01 billion, exceeding the Zacks Consensus Estimate by 0.55$952.99 million a year ago [2] - iHeartMedia shares have declined approximately 34.8% year-to-date, contrasting with the S&P 500's gain of 24.3% [3] Financial Performance - Over the last four quarters, iHeartMedia has surpassed consensus EPS estimates three times [2] - The current consensus EPS estimate for the upcoming quarter is $0.51 on revenues of$1.18 billion, while for the current fiscal year, it is -$6.11 on revenues of$3.91 billion [7] Market Outlook - The earnings outlook for iHeartMedia is unfavorable, leading to a Zacks Rank of 4 (Sell), indicating expected underperformance in the near future [6] - The Broadcast Radio and Television industry, to which iHeartMedia belongs, is currently ranked in the bottom 27% of over 250 Zacks industries, suggesting potential challenges ahead [8]