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Revenue rose 1.7% year-over-year to $1.4 billion, ahead of the consensus at $1.37B. Adjusted Ebitda jumped 9.2% to $308M, again beating the average analyst estimate of $277.4M.
“With continued momentum in music publishing, and a more robust schedule that includes the return of worldwide superstars and new artists breaking globally, we are optimistic about the second half of the year,” said Robert Kyncl, CEO, Warner Music Group.
“As the music ecosystem continues to morph, and the use cases multiply, it only increases conviction in our tech-enabled strategy. In a highly proactive, fiscally responsible way, we’re investing in the artists, songwriters, team, and technology that will deliver continued growth and long-term success.”
For its second quarter, the company reported an operating margin of 8.9%.
