iHeartMedia Posts $1.03 Billion in Third-Quarter Revenue, Up 3.3%
Key Facts
iHeartMedia reported results on November 9 for the quarter ended September 30, 2026, posting revenue of $1.03 billion, up 3.3% year over year, according to a company statement. It said adjusted EBITDA was $170 million, compared with $205 million in the third quarter of 2025. The results reflect a divergence between revenue growth and a decline in this earnings measure from a year earlier. The company attributed some weakness in broadcast and network revenue in its Multiplatform Group to advertisers’ uncertainty about consumer spending. Higher political revenue and non-cash barter and advertising revenue partly offset the weakness.
Chief Executive Bob Pittman said political spending shifted to programmatic platforms faster than iHeartMedia had expected. He added that radio’s share of political advertising was lower than radio’s share of the overall advertising market, unlike local television.
The results showed that overall revenue growth did not prevent adjusted EBITDA from declining compared with the year-earlier period. It fell from $205 million in the third quarter of 2025 to $170 million in the third quarter of 2026, according to the company’s filing with the U.S. Securities and Exchange Commission. In explaining the Multiplatform Group’s performance, the company cited advertisers’ caution about consumer spending, partly offset by other revenue sources. Those offsetting factors included growth in political revenue and non-cash barter and advertising revenue. The available information did not include a documented comparison between the results and analyst expectations.
On liquidity, the quarterly report showed that iHeartMedia had $140 million in cash and cash equivalents and total available liquidity of $416 million as of September 30, 2026. These figures provide a snapshot of the company’s financial resources at quarter-end, alongside its quarterly results. The company’s plans also focus on expanding the role of audio programming in its business. iHeartMedia expects total programming revenue of about $400 million in 2027. It also plans to report podcasting as a standalone segment beginning that year.
For the fourth quarter of 2026, the company expects revenue growth at a mid-single-digit rate. It estimated adjusted EBITDA for the quarter at between $135 million and $185 million. The outlook sets a frame for the coming period after this measure declined year over year in the third quarter. iHeartMedia shares closed at $1.77 on November 9, 2026, according to EL7 data. That closing price alone does not establish the performance of another session or the reason for the stock’s movement.