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Jun 30, 2021
iHeartMedia Q2 2021 Earnings Report
Reported financial results for the quarter ended June 30, 2021.
Key Takeaways
iHeartMedia, Inc. reported a significant increase in revenue and operating income for Q2 2021, driven by the recovery of the Multiplatform Group and the continued growth of the Digital Audio Group. Total revenue increased by 77% year-over-year, with GAAP operating income reaching $28 million compared to an operating loss in the previous year. The company also highlighted the expansion of adjusted EBITDA margins and reaffirmed its expectation to return to 2019 adjusted EBITDA levels by the end of 2021.
Q2 Revenue of $862 million up 77% YoY, surpassing guidance.
GAAP Operating income of $28 million vs. Operating loss of $159 million in Q2 2020.
Digital Audio Group Revenue was up 112% YoY.
Q3 Consolidated Revenue expected to increase by approximately 20% YoY.
Revenue by Segment
Forward Guidance
iHeartMedia anticipates continued growth in Q3 with consolidated revenue expected to increase by approximately 20% YoY. The company reaffirms its expectation to return to 2019 Adjusted EBITDA levels by the end of 2021.
Positive Outlook
- Q3 Consolidated Revenue expected to increase by approximately 20% YoY
- Expect to return to 2019 Adjusted EBITDA levels by the end of 2021
- July Revenue up approximately 26% YOY
Historical Earnings Impact
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Avg. Return Before/After Earnings
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