Warner Music Group Corp. Reports Results For Fiscal Second Quarter

Q2 Financials

WARNER MUSIC GROUP has reported its second-quarter financial results for the period ended MARCH 31st.  

“Our second-quarter results were strong,” said CEO STEVE COOPER. “Our sustained investment in our artists and songwriters, our artist services business and our world-class operators, are delivering great results.”

“Revenue and OIBDA were both up double-digits,” added EVP/CFO ERIC LEVIN. “Our cash position remains strong, with $470 million on the balance sheet at quarter-end.”

Highlights

• Total revenue grew 13.2% or was up 17.6% in constant currency 
• Digital revenue grew 20.8% or was up 25.0% in constant currency 
• Net income was $67 million versus a net loss of $1 million in the prior-year quarter
• OIBDA was $191 million, up 25.7% from $152 million in the prior-year quarter

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