IHeartMedia, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 04, 2021 at 04:17 pm EDT
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iHeartMedia, Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was USD 928.05 million compared to USD 744.41 million a year ago. Net income was USD 3.18 million compared to net loss of USD 32.11 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to basic loss per share from continuing operations of USD 0.22 a year ago. Diluted earnings per share from continuing operations was USD 0.02 compared to diluted loss per share from continuing operations of USD 0.22 a year ago.
For the nine months, sales was USD 2,496.32 million compared to USD 2,012.69 million a year ago. Net loss was USD 270.83 million compared to USD 1,918.17 million a year ago. Basic loss per share from continuing operations was USD 1.85 compared to USD 13.15 a year ago. Diluted loss per share from continuing operations was USD 1.85 compared to USD 13.15 a year ago.
iHeartMedia, Inc. is an audio company. The Company operates through three segments: Multiplatform Group, Digital Audio Group, and Audio & Media Services Group. The Multiplatform Group segment includes the Company's broadcast radio, networks, sponsorships, and events businesses. The Digital Audio Group segment includes all of the Company's digital businesses, including podcasting, the iHeartRadio digital service, its digital advertising technology companies, its digital Websites, newsletters and digital services and programs; and its audio industry social media footprint. The Audio & Media Services Group segment provides other audio and media services, including the Company's media representation business, Katz Media Group, and RCS Sound Software, a provider of scheduling and broadcast software to the industry at large. Its iHeartRadio digital service, available across more than 250 platforms and thousands of devices, the Companyâs digital sites, newsletters, and others.