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iHeartMedia reported Q2 2022 results with consolidated revenues of $954 million, an 11% increase year-over-year, aligning with guidance. GAAP operating income reached $83 million, significantly up from $28 million in Q2 2021. Adjusted EBITDA climbed 29% YoY to $237 million, with a margin of 24.9%. Digital Audio revenue surged 28% to $253 million, driven by podcast growth of 60%. Free Cash Flow was $106 million, reflecting strong cash generation and proactive capital management strategies.
iHeartMedia reported Q3 2021 revenue of $928 million, a 25% increase YoY. Digital Audio Group revenue surged 77% to $205.8 million, with podcast revenue up 184%. Operating income rose to $80 million, doubling from $39 million in Q3 2020. Adjusted EBITDA reached $230 million, reflecting a 42% YoY increase. Free cash flow was $45 million. Despite political ad revenue declines, the company expects Q4 revenue growth of 10% YoY. iHeart maintains strong liquidity with $369 million in cash.
iHeartMedia, Inc. (NASDAQ: IHRT) will release its financial results for Q4 2020 on February 25, 2021. A conference call will follow at 4:30 p.m. ET, accessible via audio webcast on the company's Investors homepage. The company is recognized as the leading audio firm in the U.S., engaging a monthly audience of 250 million across various platforms, including over 850 live stations and its iHeartRadio service. For further details, visit iHeartMedia's website.
