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iHeartMedia sees $76.76 million of August operating income; revenue up
By Caroline Salls
Pittsburgh, Oct. 2 – iHeartMedia, Inc. reported $76.76 million of operating income for August on $299.39 million in revenue, according to its monthly operating report filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Texas.
In comparison, iHeartMedia posted $55.25 million of operating income for July on $281.12 million in revenue.
Net income for August was $66.92 million, improving from $49.55 million of net income in July.
The company had cash and cash equivalents of $89.48 million as of Aug. 31, down from $157.61 million at the end of July.
iHeartMedia is a media and entertainment company based in San Antonio. The company filed bankruptcy on March 15, 2018 under Chapter 11 case number 18-31274.
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