Loading...
•
Sep 30, 2020
iHeartMedia Q3 2020 Earnings Report
Reported financial results for the quarter ended September 30, 2020, showing sequential improvement in revenue and a focus on cost management and liquidity.
Key Takeaways
iHeartMedia, Inc. reported a 22% YoY decrease in revenue to $744 million for Q3 2020, but a 53% sequential increase QoQ. Digital revenue increased 17% YoY, driven by a 74% increase in podcasting revenue. The company achieved GAAP operating income of $39 million and adjusted EBITDA of $162 million. The company is on track to deliver $250M of cost savings in 2020.
Q3 Revenue up 53% sequentially, moving from down 47% YoY in Q2 to down 22% YoY in Q3
Digital Revenue Increased 17% YoY, Validating our Multi-Platform Growth Strategy
Received Declaratory Ruling from the FCC Granting our Request to Allow up to 100% of our Common Stock to be Owned by Non-US Persons, Subject to Certain Limitations
Execution on track to deliver $250M of cost savings in 2020 from modernization and COVID-19-related initiatives
Revenue by Segment
Forward Guidance
The company expects further improvement in both revenue and Adjusted EBITDA in the fourth quarter.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...