Warner Music Group Q4 Profit Increases

(RTTNews) - Warner Music Group Corp. (WMG) Thursday reported an increase in fourth-quarter earnings on a 6 percent growth in revenue, compared to the prior year.

Quarterly earnings improved 3 percent to $154 million from $150 million in the previous year. On an adjusted basis, earnings were $180 million.

On average, 11 analysts polled by Thomson Reuters expected the company to report $0.25 per share. Analysts estimates typically exclude special items.

Revenue for the quarter grew to $1.586 billion from $1.497 billion last year. Recorded Music streaming revenue increased by 9.6 percent, and Music Publishing streaming revenue increased by 28.4 percent.

Wall Street was looking for $1.57 billion.