iHeartMedia Q2 revenue down 3.6% to $920M; GAAP operating loss $897M from $961M impairment

iHeartMedia, Inc.

2023-Q2 EPS reported -$7.44 revenue$1,731,253,000

Adjusted EBITDA of $191M within $180-200M guidance; down from $237M YoY.
Digital Audio revenue up 3% to $261M; podcast revenue up 13% to $96.7M.
Multiplatform Group revenue down 6% to $596M on weak broadcast and political ad demand.
Repurchased $80M principal of 8.375% notes for $57M cash; $430M total since Q2 2022.
Q3 guidance: revenue decline mid-single digits; Adjusted EBITDA $195-205M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

iHeartMedia, Inc. reported the quarter ended June 30, 2023 results: revenue $920 million, net income GAAP Operating loss of $897 million.

Period: the quarter ended June 30, 2023
Revenue: $920 million
Net income: GAAP Operating loss of $897 million
Result: reported results

Exact text from the filing

– iHeartMedia, Inc. (Nasdaq: IHRT) today reported financial results for the quarter ended June 30, 2023. Financial Highlights: 1 Q2 2023 Consolidated Results ▪ Q2 Revenue of $920 million, down 3.6%; slightly better than the guidance range of down mid-single digits • Excluding Q2 Political Revenue, Q2 Revenue down 1.8% ▪ GAAP Operating loss of $897 million vs.

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Source: SEC EDGAR

accession 0001400891-23-000036

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