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WMG Income Outpaces Analyst Estimates On Strong Digital Gains
February 14, 2006 at 3:21 PM (PT)
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WARNER MUSIC GROUP today reported that first quarter income rose to $69 million, or 46 cents a share, from $36 million, or 31 cents, a year earlier. While profit beat the 42 cent estimate of LEHMAN BROTHERS analyst ERIC HANDLER, the company's total revenue fell 4% to $1.04 billion in the period ended DEC. 31. Digital revenue was $69 million, climbing to 7% of total revenue in the quarter, up 30% sequentially from the fourth quarter 2005 and 176% from $25 million in the same quarter last year.

