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SAN ANTONIO (AP) — SAN ANTONIO (AP) — IHeartMedia Inc. (IHRT) on Tuesday reported fourth-quarter earnings of $79.9 million.
On a per-share basis, the San Antonio-based company said it had profit of 54 cents.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The radio company posted revenue of $1.13 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.11 billion.
For the year, the company reported that its loss widened to $264.7 million, or $1.79 per share. Revenue was reported as $3.91 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a IHRT">Zacks stock report on IHRT at https://www.zacks.com/ap/IHRT