TELETRADER News
5/4, 1:36 PM (Source: TeleTrader)
more TeleTrader news

Warner Music revenue climbs 17% to $1.3B in Q2

Warner Music Group Corporation unveiled on Tuesday the company's revenue in the second quarter of 2021 gained 16.7% on the year to amount to $1.25 billion.

Warner Music's net income landed at $117 million, compared to the loss of $74 million recorded in the same period a year earlier. Meanwhile, digital revenue jumped 23% to $860 million in the quarter ending March 31, 2021.

"Despite the impact of COVID, we generated the highest quarterly revenue in our 17-year history as a standalone company, growing 4% compared to the prior-year period, which was unaffected by COVID," CEO Steve Cooper commented.

The company's shares advanced 2.51% in the premarket trade after the release of the report.

Breaking the News / BU