Warner Music Group Corp reports results for the quarter ended June 30 - Earnings Summary

• Warner Music Group Corp WMG reported a quarterly adjusted loss of 3 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 32 cents. The mean expectation of fourteen analysts for the quarter was for earnings of 27 cents per share. Wall Street expected results to range from 20 cents to 36 cents per share.

• Revenue rose 8.7% to $1.69 billion from a year ago; analysts expected $1.59 billion.

• Warner Music Group Corp's reported EPS for the quarter was a loss of 3 cents​.

• The company reported a quarterly loss of $16 million.

• Warner Music Group Corp shares had risen by 10.3% this quarter and lost 3.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 6.6% 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 12 "strong buy" or "buy," 7 "hold" and 1 "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 $33.00, about 9% above its last closing price of $30.04

This summary was machine generated from LSEG data August 7 at 05:24 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)