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iHeartMedia's Revenue Growth Not Enough, Shares Plummet
Description
iHeartMedias earnings report showed a mixed bag, with revenue beating expectations but losses deeper than predicted. Adjusted earnings missed the mark by 10%, and a cash burn of over $114 million sent investors packing. Despite strong interest in podcasting, managements second-quarter guidance fell short, projecting $150 million in adjusted earnings. The stock has been volatile, currently down 44% from its 52-week high, raising questions about the companys ability to convert digital momentum into cash flow.
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