Warner Music Group: record quarter with cuts coming
With the stock markets closed, Warner Music Group anticipated some key numbers of its quarterly results on Wednesday 7 February, on which it will hold its usual call with analysts on Thursday 8 February. For the period ended December 31, 2023 its quarterly revenue grew 17%, up 11%, to $1.75 billion. This is the highest quarterly result ever for the major, which is accompanied by a net income of $193 million (compared to 124 in the same period of the previous year), to an operating income of $354 million (+34% compared to $265 in the same period of the previous year), to an OIBDA (operating income before depreciation and amortization) of $451 million (+35% compared to 335 in the same period of the previous year), to an increasing liquidity generation, with $293 million compared to 209 in the same period of the previous year.