The nation’s biggest audio media company will report its second quarter 2020 results on Thursday.
Do investors expect some not-so-great news from iHeartMedia? IHRT was off by 5.7% on Wednesday, with share values steadily streaming downward across the day.
Still, the closing value of $8.60 is far from terrible, although it is down from $11.60 on June 8. Shares of iHeartMedia in the COVID-19 era fell as low as $4.79 on April 6, and for the past two weeks have remained relatively stable on the Nasdaq GlobalSelect exchange.
Further, iHeart has been relatively quiet, with respect to its finances and outlook.
However, if other media companies’ results are any harbinger of what will be presented by COO/CFO Rich Bressler and CEO Bob Pittman on Thursday, strap in for a bumpy ride.
A conference call for investors and financial analysts is scheduled for 8:30am Eastern.