Methods and apparatus for processing received OFDM signals to compensate for distortions caused by IQ imbalances are disclosed. Receiver circuits may be configured to demodulate symbols from a first logical channel, using an uncompensated received OFDM signal that includes the effects of those distortions. Receiver circuits may be further configured to calculate an IQ imbalance parameter, using the demodulated symbols, for use in compensating the received OFDM signal to reduce the effects of the IQ imbalances. The compensated signal produced thereby may be used for demodulating symbols from a second logical channel, perhaps corresponding to a user data channel.