earnings
confidence high
sentiment positive
materiality 0.70
Warner Music Q3 net income up 14% to $141M; Adj. OIBDA +6% to $316M; revenue -1%
Warner Music Group Corp.
- Revenue down 1% to $1,554M (up 1% CC); Recorded Music -2%, Publishing +8%.
- Net income $141M (+14%); Operating income $207M (+10%); Adj. OIBDA $316M (+6%; +8% CC).
- Cash from operations $188M (+29%); Free cash flow $160M (+42%).
- Reiterated FY operating cash flow conversion guidance of 50-60%.
- CEO cites strong subscription streaming growth; CFO highlights margin expansion and cost discipline.