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Warner Music Group Corp. Q4 Adj. Net Income Rises

Warner Music Group Corp. reported that its fourth quarter adjusted net income was $170 million compared to $69 million, last year. Adjusted EBITDA increased 16% to $276 million.

Net income was $150 million compared to $30 million, last year. Class A earnings per share was $0.28 compared to $0.05.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.13, for the quarter. Analysts' estimates typically exclude special items.

Revenue was $1.50 billion compared to $1.38 billion, last year. Revenue was up 8.8% or up 16.0% in constant currency. Analysts on average had estimated $1.41 billion in revenue.

As of September 30, 2022, the company reported a cash balance of $584 million, total debt of $3.732 billion and net debt of $3.148 billion.

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