iHeartMedia marks $80.89 million of operating income for month of May

By Caroline Salls

Pittsburgh, July 17 – iHeartMedia, Inc. reported $80.89 million of operating income for May on $318.67 million in revenue, according to its monthly operating report filed Tuesday with the Securities and Exchange Commission.

In comparison, iHeartMedia posted $63.93 million of operating income for the period of March 15 through April 30 on $417.95 million in revenue.

Net income for May was $57.71 million, improving significantly over a $139.8 million net loss for the previous period.

The net loss for the April period included $202.45 million in net reorganization items, compared with $21.02 million for May.

The company had cash and cash equivalents of $275.39 million as of May 31, up from $240.68 million at the end of April.

iHeartMedia is a media and entertainment company based in San Antonio. The company filed bankruptcy on March 15 under Chapter 11 case number 18-31274.

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