Iheartmedia ( (IHRT) ) has released its Q4 earnings. Here is a breakdown of the information Iheartmedia presented to its investors.
iHeartMedia, Inc., a leading audio company in the United States, operates across multiple platforms including radio, digital audio, and media services, and is known for its extensive reach and innovative advertising solutions. In its latest earnings report for the fourth quarter and full year of 2024, iHeartMedia announced a successful debt exchange transaction and cost efficiency actions that have significantly reduced its net debt and extended debt maturities. The company reported a 4.8% increase in Q4 revenue, driven by political and digital audio revenue, with a notable 18.2% rise in adjusted EBITDA compared to the previous year. The Digital Audio Group saw a 7% increase in revenue, while the Multiplatform Group’s revenue remained flat. Despite these gains, the company faced a GAAP operating loss for the full year, primarily due to non-cash impairment charges. Looking ahead, iHeartMedia expects a slight decline in Q1 2025 revenue but anticipates maintaining flat revenue for the full year, with a focus on achieving further debt reduction and operational efficiency.