Global media and entertainment company iHeartMedia (NASDAQ: IHRT) will be announcing earnings results this Monday afternoon. Here’s what to look for.
iHeartMedia beat analysts’ revenue expectations by 2.6% last quarter, reporting revenues of $807.1 million, up 1% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EPS estimates.
Is iHeartMedia a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting iHeartMedia’s revenue to decline 1.9% year on year to $911.8 million, a deceleration from its flat revenue in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. iHeartMedia has missed Wall Street’s revenue estimates twice over the last two years.
Looking at iHeartMedia’s peers in the broadcasting segment, some have already reported their Q2 results, giving us a hint as to what we can expect. FOX delivered year-on-year revenue growth of 6.3%, beating analysts’ expectations by 5.5%, and AMC Networks reported a revenue decline of 4.1%, topping estimates by 3%. FOX traded down 5% following the results.
Read our full analysis of FOX’s results here and AMC Networks’s results here.
Investors in the broadcasting segment have had steady hands going into earnings, with share prices flat over the last month. iHeartMedia is down 11.1% during the same time and is heading into earnings with an average analyst price target of $1.58 (compared to the current share price of $1.76).
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