Warner Music Q2 net income falls 60% to $37M; adjusted OIBDA up 4%

Warner Music Group Corp.

Net income $37M vs $92M prior year; OIBDA $207M (-19%).
Revenue $1.399B (+2%); digital revenue $942M (+1%).
Recorded Music revenue flat at $1.143B; Music Publishing up 12% to $257M.
Adjusted OIBDA $286M (+4%); free cash flow -$41M vs +$16M prior year.
CEO optimistic on H2 with return of superstars and new global artists.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Warner Music Group Corp. reported the quarter ended March 31, 2023 results: net income $37 million.

Period: the quarter ended March 31, 2023
Net income: $37 million
Result: reported results

Exact text from the filing

For the three months ended March 31, 2023 • Total revenue increased 2% or 5% in constant currency • Digital revenue increased 1% or 4% in constant currency • Net income was $37 million versus $92 million in the prior-year quarter

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Source: SEC EDGAR

accession 0001319161-23-000017

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