Third-quarter results from iHeartMedia, filed with the SEC late Thursday, were largely positive. However, that failed to move the needle for investors, as its shares lost a penny, finishing at 49 cents. Consolidated operating income surged, with across-the-board improvements seen.
Revenue for the core iHM segment, which includes iHeart’s radio stations, increased by 1.6%, to $873.4 million.
Operating income was up 7.5%, to $266.45 million.
Consolidated revenue came in at $1.58 billion, rising 3%. Consolidated operating income was $247.3 million, up from $225.7 million.
The non-GAAP measure of OIBDAN was also positive, rising 3.6% to $414.1 million.