Quarterly ResultMay 7, 2026, 04:23 PM
Warner Music Group Q1 Revenue +16.7% to $1.73B; Net Income +408%
AI Summary
Warner Music Group Corp. reported strong financial results for the three months ended March 31, 2026, with revenue increasing by 16.7% to $1.73 billion and net income attributable to the company surging by 408.3% to $183 million. Diluted EPS also saw a significant rise to $0.34. The company's cash and equivalents increased to $741 million, and net cash provided by operating activities grew to $566 million for the six-month period. Notably, the Beethoven Credit Agreement was increased to $750 million, and equity commitments for the Beethoven joint venture were raised by $100 million from each partner.
Key Highlights
- Q1 Revenue increased 16.7% to $1.73 billion from $1.48 billion year-over-year.
- Q1 Net income attributable to WMG Corp. rose 408.3% to $183 million from $36 million year-over-year.
- Q1 Diluted EPS (Class A) increased to $0.34 from $0.07 year-over-year.
- Net cash provided by operating activities for six months increased to $566 million from $401 million.
- Cash and equivalents grew to $741 million as of March 31, 2026, from $532 million.
- Total Recorded Music revenue was $1.38 billion, and Music Publishing revenue was $353 million for Q1.
- Beethoven Credit Agreement commitments increased from $500 million to $750 million.
- WMGCo and BainCo increased equity commitments for Beethoven JV by $100 million each.