- iHeartMedia Inc (NASDAQ:IHRT) reported fourth-quarter FY21 revenue growth of 13.5% year-on-year to $1.06 billion, beating the consensus of $1.04 billion.
- The Q4 revenue was up 25% Y/Y, excluding the impact of Political.
- Digital Audio Group revenue grew 58.7% Y/Y to $273.2 million.
- Podcast revenue rose 130% Y/Y to $96.6 million. Digital revenue excluding Podcast was up 35.7% Y/Y to $176.6 million.
- Multiplatform Group revenue increased 9.2% Y/Y to $726.3 million.
- iHeartMedia generated $133.98 million in operating cash flow and held $352.1 million in cash and equivalents.
- Bob Pittman, Chairman and CEO, said, "We believe that this strong performance in Q4 and full-year positions us well for continued growth in 2022."
- Outlook: iHeartMedia sees Q1 FY22 revenue to be up 17% - 19% year-over-year, representing $826.8 million- $840.9 million against the consensus of $828.2 million.
- Price Action: IHRT shares traded lower by 4.44% at $19.05 on the last check Wednesday.
