Warner Music Group swings to a profit from narrow loss

Warner Music Group Corp. /zigman2/quotes/218669580/composite WMG +0.76% on Monday said its fourth-quarter net income rose to $28 million, or 5 cents a share, from a loss of $1 million, or breakeven on a per-share basis, in the year-ago period. Revenue rose to $1.38 billion from $1.13 billion. Adjusted net income rose to $69 million from $20 million in the prior-year quarter. Analysts expected the company to earn 15 cents a share on revenue of $1.35 billion, according to a survey by FactSet. Shares of Warner Music Group are up 27.3% so far in 2021, compared to a rise of 24.7% by the S&P 500.

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Warner Music Group Corp.

US : U.S.: Nasdaq

$ 30.57

+0.23 +0.76%

Volume: 729,306

March 21, 2023 4:00p

P/E Ratio

32.66

Dividend Yield

2.09%

Market Cap

$15.65 billion

Rev. per Employee

$934,355