iHEARTMEDIA, Inc. Reports Results for 2020 Second Quarter
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iHeartMedia, Inc. (IHRT) Reports Q2 Revenues Miss
August 6, 2020 8:13 AM EDTiHeartMedia, Inc. (NASDAQ: IHRT) reported Q2 revenue for the quarter came in at $488 million versus the consensus estimate of $562.5 million.
Revenue of $488 million, declined 47% YoYYoY performance by revenue stream:Broadcast revenue declined 57% from $561 million to $244 millionNetworks revenue declined 38% from $156 million to $96 millionDigital revenue increased 2%, from $91 million to $93 million, led by a 103% increase in podcasting revenueSponsorship and Events declined 65% from $42 million to $15 millionAudio & Media Services declined 33% from $59 million to $39 millionGAAP Operating loss of $159... More