| Warner Music Group (WMG) reported Q1 EPS of (11c), compared with analysts' consensus estimate of (14c). The company's revenue came in at $918M, versus the consensus of $872.28M. Warner Music's OIBDA margin increased 0.1% year-over-year to 12.2%. The company's international recorded revenue jumped 12.7% to $498M year-over-year, although it only increased 2.5% after excluding currency effects. However, Warner Music's domestic recorded revenue dropped 9.5% year-over-year to $285M. "We are pleased to have delivered stable revenue and OIBDA in our core Recorded Music and Music Publishing businesses despite ongoing recorded music industry pressures and macroeconomic headwinds," said Warner Music Group Chairman and CEO Edgar Bronfman, Jr. In early afternoon trading, Warner Music gained 23c, or 4.80%, to $5.02. :theflyonthewall.com |
