Warner Music Group Corp. Revenues Rise In Q1

Warner Music Group Corp. Revenues Rise In Q1

wmglogo2015.JPG

Revenues Rise In Q1

WARNER MUSIC GROUP CORP. has released first-quarter financial results for the period ended DECEMBER 31, 2019.

“Our Q1 results were very strong. We achieved the highest quarterly revenue in our sixteen-year history as a stand-alone company. We’re especially pleased with this result considering the strength of the prior-year quarter,” said CEO STEVE COOPER. “The combination of our creative expertise, global expansion, commercial innovation and financial discipline makes us very confident about our long-term growth prospects.”

“We again solidly grew both revenue and OIBDA,” added EVP/CFO ERIC LEVIN. “Our cash position also remains strong with $462 million on the balance sheet at quarter-end.”

  • Total revenue grew 4.4% or 5.5% in constant currency
  • Digital revenue grew 12.6% or 13.5% in constant currency
  • Net income was $122 million versus $86 million in the prior-year quarter
  • OIBDA was $236 million versus $215 million in the prior-year quarter

« see more Net News


<!–

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-1490814144737-12’); });

–> <!–

(function(d) { var params = { id: “4d7b0488-9c1f-445d-8b0f-ce30a8554ae8”, d: “YWxsYWNjZXNzLmNvbQ==”, wid: “227675”, cb: (new Date()).getTime() }; var qs=[]; for(var key in params) qs.push(key+’=’+encodeURIComponent(params[key])); var s = d.createElement(‘script’);s.type=’text/javascript’;s.async=true; var p = ‘https:’ == document.location.protocol ? ‘https’ : ‘http’; s.src = p + “://api.content-ad.net/Scripts/widget2.aspx?” + qs.join(‘&’); d.getElementById(“contentad227675”).appendChild(s); })(document);
–> Source