iHeartMedia Q2 revenue up 1% to $929M, Adj. EBITDA $150M, guides Q3 Adj. EBITDA $200-220M

iHeartMedia, Inc.

2024-Q2 EPS reported -$6.65 revenue$1,728,130,000

Q2 revenue $929M (+1.0% YoY), above flat guidance; Digital Audio revenue up 10% to $286M, podcast revenue $105M (+8%).
GAAP operating loss $910M includes $920M non-cash impairment; net loss $982M vs $883M prior year.
Consolidated adjusted EBITDA $150M (within guidance $140-160M), down from $191M prior year; Multiplatform segment EBITDA margin 18.1% vs 27.3%.
Q3 guidance: revenue mid-single digit increase, adjusted EBITDA $200-220M; Full year 2024 Adj. EBITDA expected $760-800M.
Cash $365M, net debt $4.85B; no material debt maturities before May 2026.

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