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iHeartMedia Earnings: Political Ads Help Drive Q2 Revenue Up 4.7%
['Elizabeth Dilts Marshall']
Billboard
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell 2.9% to $152 million, down from $156 million in the same period last year.
Those ad dollars are anticipated to deliver adjusted EBITDA growth for the multiplatform division.
Adjusted EBITDA margin contracted to 10.9%.
iHeart’s fast-growing podcast division reported revenue of $164 million, up 21% from a year ago, while digital revenue excluding podcasts rose 7% to $202 million.
Segment adjusted EBITDA rose 14% from a year ago to $123 million, with an adjusted EBITDA margin of 33.8%.