Warner Music Group Reports Results For Fiscal First Quarter Ended December 31st, 2018

Financials

WARNER MUSIC GROUP CORP has released its first-quarter financial results for the period ended DECEMBER 31, 2018.  

“I’m pleased that we are off to a great start for fiscal ‘19,” said CEO STEVE COOPER. “We have best in class operators working with amazing music from our extraordinary artists and songwriters across a diverse set of genres, generations and geographies.”  

“Our first-quarter results are evidence that our long-term strategy is paying off,” added EVP/CFO ERIC LEVIN. “Our Recorded Music business alone exceeded $1 billion in revenue, and we also had strong OIBDA and cash flow.”

The Highlights:

• Total revenue grew 15.1% or was up 17.8% in constant currency 
• Digital revenue grew 17.6% or was up 19.9% in constant currency 
• Net income was $86 million versus $5 million in the prior-year quarter
• OIBDA was $215 million versus $155 million in the prior-year quarter

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