iHeartMedia, Inc. (NASDAQ:IHRT) reported Q3 revenue of $843 million versus the consensus estimate of $839.41 million. GAAP Operating income of $12 million vs. Operating loss of $76 million in Q1 2021.
GUIDANCE:
- Q2 Consolidated Revenue expected to increase by approximately 10%-14% YoY
- April Consolidated Revenue up approximately 8% YoY
- May and June Consolidated Revenue currently pacing up in the mid to high teens YoY
- Q2 Consolidated Adjusted EBITDA expected to be $225 million to $245 million
- Expect to make significant progress in 2022 towards the previously announced Net Debt to Adjusted EBITDA ("net leverage") target of approximately 4x