Warner Music Reports Profit In Q4; Revenue Up 8.2% - Quick Facts

(RTTNews) - Warner Music Group Corp. reported fourth-quarter net income attributable to the Group of $90 million compared to a net loss of $14 million, last year. Adjusted net income was $103 million compared to $10 million. The company said the improvement was due to higher operating income, higher other income associated with a gain on the Euro-denominated debt and a tax benefit. OIBDA was $95 million, up 31.9 percent. Adjusted OIBDA rose 12.6 percent year-on-year to $107 million.

Fourth-quarter revenue grew 8.2 percent (or 10.4 percent in constant currency) to $1.12 billion. Recorded Music licensing revenue was flat. Digital revenue grew 13.1 percent (or 15.0 percent in constant currency) to $674 million, and represented 60.0 percent of total revenue, compared to 57.4 percent, a year ago.

"Our revenue and OIBDA performance was strong. With $619 million on our balance sheet at year-end, the cash generating power of our business has never been clearer," said Eric Levin, CFO.