Warner Music: Q2 earnings down 60%

(CercleFinance.com) - Warner Music has reported a 60% drop in net profit for Q2 2022-23 to $37m, or $0.
06 per share - however, on an adjusted basis it rose 5% to $116m.

The music publisher's adjusted OIBDA rose 4% to $286m, on sales that edged up 2% (+5% in constant currency) to $1.4bn, of which $942m was digital revenue.

With continued momentum in music publishing and a more robust calendar that includes the return of global superstars and new artists worldwide, management said it is optimistic about H2.

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