Radio companies had mixed results in the third quarter in their efforts to build digital businesses, cut costs and manage a decline in broadcast advertising dollars as consumers shift to newer entertainment platforms.

iHeartMedia’s consolidated revenue of $997 million was down just 1.1%, well within the company’s guidance of a low single-digit decline. Excluding the impact of political advertising in the prior-year period, revenue was up 2.8%. CEO Bob Pittman said during the company’s earnings call on Monday (Nov. 10) that the advertising environment is “pretty good” and iHeartMedia is “not feeling anything” related to the U.S. government shutdown.

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