If the often-overused buzzword “transformational” could only apply to one company, perhaps iHeartMedia qualifies as one. On July 18, it began trading on Nasdaq as “IHRT,” free of billions of dollars in debt following a successful exit from Chapter 11 bankruptcy protection.
Today, it can celebrate “strong results” punctuated by a 3% revenue gain in Q3, on statistically flat earnings before interest.
However, there was one blemish, as operating income slid by nearly 25%.
