Revenues1 up 2%, excluding FX impact (reported revenues down 2%)
OIBDAN1 up 3%, excluding FX impact (reported OIBDAN up 0.4%)
San Antonio, July 30, 2015 – iHeartMedia, Inc. (OTCBB: IHRT) today reported financial results for the second quarter ended June 30, 2015.
“We continue to differentiate ourselves in the marketplace with our unmatched portfolio of products, media platforms, content and personalities -- all built on the power of broadcast radio and out of home -- which give us the most powerful marketing vehicles available today,” Chairman and Chief Executive Officer Bob Pittman said. “We are building on the power of sound and social, the power of outdoor and the emerging power of digital to create even stronger marketing solutions for our partners, while providing the most live content and events to the industry’s most engaged audiences, wherever they are and on whatever device they want to use. We continue to find creative ways to use iHeartMedia’s cross-platform assets to redefine the future of consumer media and entertainment.”
“We’re pleased with the revenue and OIBDAN growth we achieved this quarter,” said Rich Bressler, President, Chief Operating Officer and Chief Financial Officer. “We continue to invest in our capabilities across both iHeartMedia and outdoor to realize the full value of our multi-platform assets. With no significant debt maturities until 2018, we can continue focusing on growing the top and bottom lines across our business segments."