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Mar 31, 2023
iHeartMedia Q1 2023 Earnings Report
Reported financial results, with revenue slightly above guidance and adjusted EBITDA exceeding expectations.
Key Takeaways
iHeartMedia reported Q1 2023 results with revenue of $811 million, a decrease of 3.8%. The company's GAAP operating loss was $49 million, while consolidated adjusted EBITDA was $93 million. Digital Audio Group revenue increased by 4% to $223 million, and Multiplatform Group revenue decreased by 7% to $529 million.
Q1 Revenue was $811 million, down 3.8%, but above the guidance range.
GAAP Operating loss was $49 million, compared to income of $12 million in Q1 2022.
Consolidated Adjusted EBITDA was $93 million, exceeding the guidance range.
Digital Audio Group Revenue increased by 4% to $223 million.
Revenue by Segment
Forward Guidance
iHeartMedia expects Q2 Consolidated Revenue to decline in the mid-single digits and Q2 Consolidated Adjusted EBITDA to be $180 million to $200 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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