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Warner Music's Q2 Revenue Surges On Ed Sheeran, Jack Harlow, Green Day Hits, Yet Shares Fall
Warner Music Group Corp (NASDAQ:WMG) shares were trading lower on Thursday after the company reported fiscal second-quarter 2024 results.
GAAP EPS of $0.18 beat the analyst consensus estimate of $0.16.
Revenue grew 7% year-on-year (Y/Y) to $1.49 billion, beating the analyst consensus estimate of $1.48 billion.
Recorded Music revenue grew by 4% Y/Y at $1.19 billion in the quarter. The major sellers included Zach Bryan, Ed Sheeran, Jack Harlow, and Green Day, the Hollywood Reporter reports.
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