Warner Music Group Q4 Profit Tumbles, Misses Estimates: Revenues Top

(RTTNews) - Warner Music Group Corp. (WMG) reported Thursday that net income attributable to Warner for the fourth quarter tumbled to $41 million or $0.08 per share from $152 million or $0.17 per share in the prior-year quarter.

On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.31 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter grew 2.8 percent to $1.63 billion from $1.59 billion in the same quarter last year. Analysts expected revenues of $1.60 billion for the quarter.

Last week, the Company's board of directors authorized a new $100 million share repurchase program.

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