Warner Music Group Corp reports results for the quarter ended March 31 - Earnings Summary

• Warner Music Group Corp WMG.OQ reported quarterly adjusted earnings of 7 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of 39 cents. The mean expectation of fifteen analysts for the quarter was for earnings of 27 cents per share. Wall Street expected results to range from 23 cents to 34 cents per share.

• Revenue fell 0.7% to $1.48 billion from a year ago; analysts expected $1.52 billion.

• Warner Music Group Corp's reported EPS for the quarter was 7 cents​.

• The company reported quarterly net income of $272 million.

• Warner Music Group Corp shares had fallen by 4.0% this quarter and lost 2.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 0.8% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy," 7 "hold" and 2 "sell" or "strong sell." The average consensus recommendation for the entertainment production peer group is also "buy"

• Wall Street's median 12-month price target for Warner Music Group Corp is $34.50

This summary was machine generated from LSEG data May 8 at 02:27 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)