Warner Music Group Corp. has announced its third quarter financial results for the period ended June 30, 2017.
• Total revenue grew 13.1% or was up 15.5% in constant currency
• Digital revenue grew 30.2% or was up 33.0% in constant currency
• Net income was $143 million versus a loss of $7 million in the prior-year quarter
• OIBDA was $115 million versus $120 million in the prior-year quarter
“Our momentum continues with our eighth consecutive quarter of revenue growth – the last seven of which were up double digits,” said Steve Cooper, Warner Music Group’s CEO. “Our artists and songwriters are creating great music and our team is outperforming in a growing industry.”
“I’m proud of our team for delivering such strong results, particularly against difficult comparisons in the prior-year quarter,” added Eric Levin, Warner Music Group’s Executive Vice President and CFO. “I’m confident that 2017 will be another strong year.”
