Warner Music Q2 revenue up 7% to $1.49B; adjusted OIBDA up 9%; Music Publishing revenue up 19%

Warner Music Group Corp.

Revenue $1,494M (+7% YoY); net income $96M vs $37M; operating income $119M (-4%).
Adjusted OIBDA $312M (+9%); Recorded Music revenue +4% (subscription streaming accelerating).
Music Publishing revenue $306M (+19% YoY).
Full-year operating cash flow conversion guidance reaffirmed at 50-60%.
Cash used in operations $31M; free cash flow -$57M.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Warner Music Group Corp. reported for the quarter ended March 31, 2024 results: revenue $1,494, net income $96 million. Guidance reaffirmed.

Period: for the quarter ended March 31, 2024
Revenue: $1,494
Net income: $96 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Ended March 31, 2023 % Change For the Six Months Ended March 31, 2024 For the Six Months Ended March 31, 2023 % Change (unaudited) (unaudited) (unaudited) (unaudited) Revenue $ 1,494 $ 1,399 7 % $ 3,242 $ 2,887 12 % Recorded Music revenue 1,189 1,143 4 % 2,634 2,382 11 % Music Publishing revenue 306 257 19 % 610 507 20 % Operating income 119 124 -4 % 473 389

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Source: SEC EDGAR

accession 0001319161-24-000018

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