From Financial Modeling Prep: 2024-11-22 08:43:00

Warner Music Group (NASDAQ:WMG) shares dropped over 7% after fourth-quarter earnings fell short of analyst expectations. Adjusted earnings per share were $0.08, well below the estimated $0.28. Revenue for the quarter was $1.63 billion, slightly surpassing the projected $1.59 billion.

Total revenue grew 2.8% year-over-year, with Recorded Music revenue up 3.6% to $1.34 billion. Streaming revenue saw a 1% increase, while Music Publishing revenue declined by 1% to $295 million. Digital revenue remained steady. Excluding one-time items, total revenue would have grown by 5.8%.

Despite missing earnings estimates, Warner Music highlighted its adaptability and resilience in a changing market.



Read more at Financial Modeling Prep:: Warner Music Shares Drop 7% on Q4 Earnings Miss De…