- Warner Music Group Corp (NASDAQ:WMG) reported first-quarter FY22 revenue growth of 22% year-on-year to $1.61 billion, beating the consensus of $1.49 billion.
- Recorded Music revenue grew 19% Y/Y to $1.39 billion. Music Publishing increased 31% Y/Y to $229 million, and Digital grew 21% Y/Y to $1 billion.
- Adjusted OIBDA margin increased 90 bps to 22% due to strong operating performance.
- Adjusted EBITDA margin improved 190 bps to 24.1%.
- EPS of $0.36 beat the consensus of $0.29.
- Warner Music generated $129 million in operating cash flow (-24% Y/Y) and held $450 million in cash and equivalents. Free cash flow fell 24% for $95 million.
- Dividend: The board declared a regular quarterly cash dividend of $0.15 per share, representing an aggregate quarterly dividend of $77.2 million.
- Price action: WMG shares traded lower by 6.01% at $38.11 on Tuesday.
Get all your news in one place.
100’s of premium titles.
One app.
Start reading
One app.
Get all your news in one place.
100’s of premium titles. One news app.
Why Are Warner Music Shares Trading Lower Today?
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member?
Sign in here
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member?
Sign in here
Our Picks