Loading...
Loading...
- Warner Music Group Corp 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in