8/9/2022, 1:34 PM (Source: TeleTrader)
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Warner Music's revenue in Q3 up 7% to $1.4B

Warner Music Group Corp. announced in its third-quarter earnings release on Tuesday that its revenue grew 7% year-on-year to $1.4 billion. Net income soared 105% to $125 million compared to Q3 2021, with diluted earnings per share (EPS) at $0.24.

Digital revenue increased 1.7% annually, while total streaming revenue rose by 2.7%, primarily driven by growth in Music Publishing streaming revenue of 29.6%. "In June, we saw the beginning of a new wave of amazing releases and we’re looking forward to a strong end to our fiscal year. Long term, we have the scale to best capitalize on trends in artist development, and the agility and resources to continue to propel the globalization and diversification of our business," CEO Steve Cooper said.

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