Key Highlights

  • IHRT shares are trading 16.99% higher at $1.83 on Thursday, October 29, 2026, from an implied prior close of about $1.56 (calculated).
  • Second-quarter revenue grew 4.7% to $977.2 million, and podcast revenue gained 20.7% to $162.1 million.
  • Adjusted EBITDA for full-year 2026 is guided to roughly $800 million and free cash flow to roughly $200 million.
  • Net debt came to $4,651.3 million on June 30, 2026, compared with cash of $174.4 million.
  • The 52-week range spans $1.38 to $6.56, and the market value was about $296 million at the October 23 close.

iHeartMedia Price Jump: What Is Behind the Audio Company's 16.99% Gain Today?

iHeartMedia (NASDAQ:IHRT) is trading 16.99% higher at $1.83 on Thursday, October 29, 2026, an implied prior close near $1.56 (calculated). No dated company release came with the move, and the company has yet to report third-quarter results.

The shares ended at $1.87 on October 23, 2026, up 8.72% in that session, which put the market value near $296 million and the stock close to the low end of a 52-week range of $1.38 to $6.56. Recent company announcements have been promotional, among them the 2027 iHeartRadio ALTer EGO lineup on October 13 and a partnership expansion with a vehicle maker and an animal welfare group on October 19.

Second-Quarter Mix: Is Digital Audio Pulling Ahead of Broadcast Radio?

Second-quarter revenue, reported on August 10, 2026, was $977.2 million, up 4.7% (3.5% excluding political revenue). Adjusted EBITDA edged down 2.9% to $151.5 million from $156.1 million, and the net loss was $82.5 million compared with $84.0 million a year before.

The Digital Audio Group increased revenue 12.4% to $364.1 million, with segment adjusted EBITDA up 14.5% to $123.2 million, a 33.8% margin. Podcast revenue gained 20.7% to $162.1 million, and digital revenue excluding podcasts gained 6.6% to $202.0 million.

The Multiplatform Group, covering broadcast radio, networks, sponsorships and events, posted a 1.6% revenue decline to $535.7 million and a 39.2% fall in segment adjusted EBITDA to $58.6 million. The Audio and Media Services Group, which includes Katz Media and RCS Sound Software, raised revenue 18.8% to $80.5 million.

Debt and Liquidity: What Does $4.65 Billion of Net Debt Imply for the Equity?

At June 30, 2026 total debt was $5,043.0 million and net debt $4,651.3 million. Cash was $174.4 million, and total liquidity of $457.2 million included the asset-based revolver, of which $125.0 million was drawn.

On August 7, 2026 the company pushed the maturity of its $450 million revolving facility from May 17, 2027 to January 30, 2029, leaving size and interest rates unchanged. Free cash flow was $46.0 million in the quarter, against an outflow of $13.2 million, helped by the timing of receivable collections.

As of August 5, 2026 there were 133.7 million Class A shares and 21.1 million Class B shares outstanding. The debt load compares with a market value near $300 million at the October 23 close.

What to Watch Next: Third-Quarter Report and the $180 Million to $220 Million EBITDA Range

For the third quarter, management guided to mid-single-digit revenue growth and adjusted EBITDA of roughly $180 million to $220 million. For 2026 it aims for adjusted EBITDA near $800 million, free cash flow near $200 million, $125 million of in-year cost savings, programmatic revenue near $200 million (up about 50%) and year-end net leverage in the mid-fives.

The next earnings report is estimated for November 9, 2026. Investors will measure third-quarter results against those ranges, and watch podcast growth and the Multiplatform margin.