News / Business
Warner Music Group (NYSE:WMG) Reports Q4 Loss, Shares Down Sharply
Down Shares
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Warner Music Group Corp. (NYSE:WMG) shares fell 8.36% to $6.46 after it reported fourth quarter net loss of $18 million or $0.12 per share, compared to net income of $6 million or $0.04 per share last year.
On average, 7 analysts polled by Thomson Reuters expected the company to report earnings of $0.05 per share. Analysts' estimates typically exclude special items.
Revenues grew to $861 million from $854 million in the same quarter last year. Four analysts estimated revenues of $820.29 million.
Warner Music Group Corp. is a music content company that classifies its business interests into two areas: Recorded Music and Music Publishing. The Recorded Music business produces revenue through the marketing, sale and licensing of recorded music in various physical (such as compact disc's (CDs), cassettes, long playings (LPs) and digital versatile discs (DVDs)) and digital (such as downloads and ringtones) formats.
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