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NEW YORK - iHeartMedia, Inc. (NASDAQ:IHRT) reported second-quarter revenue that exceeded analyst expectations, though shares fell 1.2% following the release as investors reacted to the company’s third-quarter guidance.
The media company posted revenue of $933.7 million for the quarter ended June 30, 2025, surpassing the consensus estimate of $912.4 million and representing a 0.5% increase YoY. Adjusted EBITDA rose 3.9% to $156.1 million compared to $150.2 million in the same period last year.
The Digital Audio Group continued to drive growth with revenue increasing 13.4% to $323.9 million, bolstered by a 28.5% surge in podcast revenue, which reached $134.3 million. However, the Multiplatform Group, which includes broadcast radio, saw revenue decline 5.4% to $544.6 million due to decreased broadcast advertising amid uncertain market conditions.
"Our second quarter performance was solid and slightly ahead of our initial expectations," said Bob Pittman, Chairman and CEO of iHeartMedia. "We continue to make progress on our ad tech platform, specifically building the capabilities to allow our broadcast radio inventory to be bought and sold like digital advertising."
Looking ahead, the company expects third-quarter consolidated revenue to decline in the low-single digits, though revenue excluding political advertising is projected to increase in the low-single digits. Third-quarter Adjusted EBITDA is forecast to be between $180 million and $220 million.
The company maintained it remains on track with previously announced modernization initiatives, which are expected to generate net savings of $150 million in 2025 compared to 2024.
As of June 30, 2025, iHeartMedia reported a cash balance of $235.9 million and total available liquidity of $526.7 million, with total debt of $5.14 billion.
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