Warner Music Group Corp. (WMG) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line totaled $241 million, or $0.45 per share. This compares with $193 million, or $0.30 per share, last year.
Analysts on average had expected the company to earn $0.33 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 4.7% to $1.666 billion from $1.748 billion last year.
Warner Music Group Corp. earnings at a glance (GAAP) :
-Earnings: $241 Mln. vs. $193 Mln. last year.
-EPS: $0.45 vs. $0.30 last year.
-Revenue: $1.666 Bln vs. $1.748 Bln last year.
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