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Nov. 15, 2021, 7:49 a.m. EST

Warner Music Group swings to a profit from narrow loss

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By Steve Gelsi

WMG

Warner Music Group Corp. /zigman2/quotes/218669580/composite WMG +0.83% 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.

/zigman2/quotes/218669580/composite
US : U.S.: Nasdaq
$ 39.68
+0.32 +0.83%
Volume: 82,004
Jan. 28, 2022 10:52a
P/E Ratio
67.72
Dividend Yield
1.52%
Market Cap
$20.78 billion
Rev. per Employee
$898,475
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