iHeartMedia, Inc. (NASDAQ:IHRT) Q2 2024 Results Conference Call August 8, 2024 8:30 AM ET

Company Participants

Mike McGuinness - Head, Investor Relations
Bob Pittman - Chairman and CEO
Rich Bressler - President, Chief Operating Officer and CFO

Conference Call Participants

Jim Goss - Barrington Research
Jessica Reif Ehrlich - Bank of America Securities
Stephen Laszczyk - Goldman Sachs
David Hamburger - Morgan Stanley
Marlane Pereiro - Bank of America Securities

Operator

Good morning, and welcome to the iHeartMedia Q2 2024 Earnings Call. [Operator Instructions] As a reminder, this conference call is being recorded.

I would now like to turn the call over to Mike McGuinness, Head of Investor Relations. Thank you. Please go ahead.

Mike McGuinness

Good morning, everyone, and thank you for taking the time to join us for our second quarter 2024 earnings call. Joining me for today's discussion are Bob Pittman, our Chairman and CEO; and Rich Bressler, our President, COO and CFO.

At the conclusion of our prepared remarks, management will take your questions. In addition to our press release, we have an earnings presentation available on our website that you can use to follow along with our remarks. Please note that this call may include forward-looking statements regarding our financial performance and operating results. These statements are based on management's current expectations, and actual results could differ from what is stated as a result of certain factors identified on today's call and in the company's SEC filings.

Additionally, during this call, we will refer to certain non-GAAP financial measures. Reconciliations between GAAP and non-GAAP financial measures are included in our earnings release, earnings presentation and our SEC filings, which are available in the Investor Relations section of our website. And now I'll turn the call over to Bob.

Bob Pittman

Thanks, Mike, and good morning, everyone. We are pleased to report that our second quarter 2024 results were in line with our previously provided adjusted EBITDA and revenue guidance ranges and we're seeing sequential improvement in our revenue growth. While the marketplace continues to be dynamic with the changing outlook on interest rates, inflation trends, global uncertainty and rapidly evolving domestic political landscape, we continue to see strong momentum in our podcast business, our digital ex-podcast business and the sequential improvement of our multi-platform group's year-over-year revenue performance.

As we look at the back half of the year, our results will reflect the continuing positive impact on an ad market recovery year, material upside from political advertising as well as the benefit of our ongoing focus on cost efficiencies.