Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

Why Are Warner Music Shares Trading Lower Today?

  • Warner Music Group Corp (NASDAQ:WMGreported 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.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
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
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.