iHeartMedia, Inc. (IHRT) Reports Q1 Revenues Miss

iHeartMedia, Inc. (NASDAQ: IHRT) reported Q1 EPS of $, versus ($0.25) reported last year. Rrn versus the consensus estimate of $787.87 million.

Statement from Senior Management

“As America’s #1 audio company, with unparalleled reach both nationally and locally, we play a critically important role in providing companionship, connection and key information to all the communities we serve, and we are incredibly proud of our employees’ commitment to that mission in response to the COVID-19 pandemic,” said Bob Pittman, Chairman and Chief Executive Officer of iHeartMedia, Inc. “Although businesses and brands across the country have been impacted, we are working closely with them on their marketing needs and are focused on helping them generate the consumer demand to reopen or ramp up. Our multiplatform offering, our unparalleled reach and our unique data and analytics position us well to benefit as a company from this returning advertising demand.”

“Given the current economic environment, iHeart has taken actions that we believe expand the Company’s financial flexibility and provide sufficient liquidity to operate effectively even in an extended period of economic weakness,” said Rich Bressler, iHeartMedia, Inc. President, Chief Operating Officer and Chief Financial Officer. “We believe that iHeart's fundamentally strong free cash-generation model, substantial current cash balances, incremental benefits from our cost savings initiatives, and flexible capital structure will enable us to build effectively on our audio market leadership and position us favorably to capitalize on the eventual recovery in advertising demand. With our experienced management team and our unparalleled assets, we are confident in our business and continue our focus on driving shareholder value.”

For earnings history and earnings-related data on iHeartMedia, Inc. (IHRT) click here.

You May Also Be Interested In

• Intuitive Surgiical (ISRG) beats earnings, revenue expectations in Q1
• Hilltop Holdings (HTH) Tops Q1 EPS by 17c
• Glacier Bancorp (GBCI) Misses Q1 EPS by 3c