WMG Stock Recent News

Warner Music Group (WMG) said it is going to expand its planned layoffs as part of an updated restructuring plan aimed at freeing up cash to boost its core music operations.

NEW YORK, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Warner Music Group Corp. (“Warner Music Group” or “WMG”) today announced that its Board of Directors declared a regular quarterly cash dividend of $0.18 per share on WMG's Class A Common Stock and Class B Common Stock. The dividend is payable on September 4, 2024, to stockholders of record as of the close of business on August 27, 2024.

Warner Music Group NASDAQ: WMG is in the communication services sector and is one of the “Big 3” companies in the music recording and publishing industry, including Sony Music Group and Universal Music Group OTCMKTS: UMGNF.

Warner Music Group Corp. (WMG) Q3 2024 Earnings Call Transcript

Warner Music Group Corp. (WMG) came out with quarterly earnings of $0.27 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.28 per share a year ago.

Shares in Warner Music Group Corp. were ahead 4% in premarket trading after the label's earnings matched market expectations and it reiterated guidance for the year.

Financial Highlights Strong Recorded Music Subscription Streaming Growth Underpinned by a Robust Slate and Healthy Industry Trends Continued Momentum in Music Publishing Led by Strength in Digital and Performance Strong Margin Expansion and Double-Digit Growth in Operating and Free Cash Flow Reflect Solid Underlying Performance and Disciplined Cost Management Reiterating Full-Year Operating Cash Flow Conversion Guidance of 50-60% For the three months ended June 30, 2024 Total revenue decreased 1% , or increased 1% in constant currency Net income increased 14% to $141 million versus $124 million in the prior-year quar ter Operating income increa sed 10% to $207 million versus $189 million in the prior-year quarter Adjusted OIBDA increased 6% to $316 million, versus $297 million in the p rior-year quarter, or 8% in constant currency Cash provided by operating activities increased to $188 million , versus $146 million in the prior-year quarter NEW YORK, Aug. 07, 2024 (GLOBE NEWSWIRE) --

Warner Music Group Corp.'s stock WMG, +1.88% rose 0.9% premarket Wednesday, after the company beat profit estimates for the second quarter, offsetting a small revenue miss. The company had net income of $139 million, or 27 cents a share, for the quarter, up from $122 million, or 23 cents a share, in the year-earlier period.

Warner Music Group (WMG) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

Warner Music Group's chief of recorded music operations Max Lousada will step down, the record label conglomerate behind artists such as Radiohead, AC/DC and Madonna, said on Thursday.