Global media and entertainment company iHeartMedia (NASDAQ: IHRT) will be announcing earnings results this Monday after the bell. Here’s what investors should know.
iHeartMedia beat analysts’ revenue expectations last quarter, reporting revenues of $884.2 million, up 9.6% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS estimates and EBITDA guidance for next quarter missing analysts’ expectations.
Is iHeartMedia a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting iHeartMedia’s revenue to grow 3.8% year on year, improving from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. iHeartMedia rarely misses Wall Street’s revenue estimates.
Looking at iHeartMedia’s peers in the consumer discretionary - 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 28.1%, beating analysts’ expectations by 15.5%, and Gray Television reported revenues up 8.7%, topping estimates by 5.5%. FOX traded up 9.1% following the results.
Read our full analysis of FOX’s results here and Gray Television’s results here.
Investors in the consumer discretionary - broadcasting segment have had steady hands going into earnings, with share prices up 1.8% on average over the last month. iHeartMedia is down 6.4% during the same time and is heading into earnings with an average analyst price target of $3.63 (compared to the current share price of $3.86).
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