Key Highlights

  • iHeartMedia (NASDAQ:IHRT) finished Tuesday, November 10, 2026 at USD 0.68, off 61.58% from a calculated previous close of USD 1.77, after third-quarter results published on November 9.
  • Third-quarter Revenue grew 3.3% to USD 1,029.8 million, yet adjusted EBITDA slid 16.7% to USD 170.5 million from USD 204.8 million, and fourth-quarter adjusted EBITDA was guided to a range of USD 135 million to USD 185 million.
  • Trading reached 11.31 million shares, a relative Volume of 13.44, worth roughly USD 7.69 million at the close (calculated), alongside trailing diluted EPS of USD -1.84 and EPS growth of +24.95%.
  • Total Debt of USD 5,024.3 million sits against a calculated closing Equity value near USD 105.3 million, putting debt at about 48 times the equity value.

What Drove iHeartMedia on November 10 (-61.58%)

The radio and digital audio firm wrapped up the regular session at USD 0.68, a fall of 61.58%, or about USD 1.09 per share from a calculated previous close of USD 1.77 on Monday, November 9, 2026. The pre-market indication stood at USD 1.28, so the shares slipped another 46.9% during the session (calculated). With 154.8 million Class A and Class B shares outstanding as of November 4, 2026, calculated Market Value shrank from roughly USD 274.0 million to roughly USD 105.3 million. The snapshot shows USD 321.01 million, which cannot be reconciled with that share count and is therefore set aside. Results arrived after the close on November 9, followed by a 4:30 p.m. ET call. Revenue of USD 1,029.8 million compared with USD 997.0 million, political revenue reached USD 29.7 million against USD 5.5 million, and the net loss narrowed to USD 8.2 million from USD 65.8 million.

The Rationale: Third-Quarter Results and Fourth-Quarter Guidance

The identified catalyst is the third-quarter release along with its outlook. Fourth-quarter adjusted EBITDA is guided to roughly USD 135 million to USD 185 million, which includes about USD 100 million of net negative non-cash Marketing impact, and full-year adjusted EBITDA to roughly USD 550 million to USD 600 million. Digital Audio revenue climbed 13.8% to USD 388.7 million, whereas Multiplatform revenue slipped 4.9% to USD 562.4 million, with Multiplatform Margin at 12.1% versus 20.2%. The release does not attribute the decline to one item. For general context, weaker margins hit heavily indebted media firms hard because interest costs absorb cash flow, and a thin equity layer means a small shift in expectations can wipe out most of the equity value.

Valuation, Liquidity and Risks for iHeartMedia

Net debt stood at USD 4,680.1 million and the stockholders' Deficit at USD 2,015.4 million. Cash of USD 139.7 million compares with USD 270.9 million at December 31, 2025, and available liquidity was USD 415.8 million. Free Cash Flow was negative USD 10.4 million for the quarter. Trading of 11.31 million shares compares with an ordinary day near 0.84 million (calculated). There is no P/E, and the Dividend Yield is 0.00%. With the price below USD 1.00, the general Nasdaq minimum bid rule is an open question, although no notice is reported. A 52-week range could not be confirmed. Leverage, Advertising cycles and refinancing risk stand out, and a decline of this size gives no hint of later direction.

Where Things Stand

iHeartMedia (NASDAQ:IHRT) cratered 61.58% to USD 0.68 on Tuesday, November 10, 2026 after a quarter where revenue grew 3.3% but adjusted EBITDA slid 16.7% and the fourth-quarter guide ran from USD 135 million to USD 185 million. With USD 5,024.3 million of debt set against about USD 105.3 million of calculated equity value, small changes in expectations swing the shares sharply.