Universal Music Group N.V. Q4 EPS €0.87 Vs €0.80 YoY; Revenue €3.208 Billion, Up 9% YoY
Portfolio Pulse from Benzinga Newsdesk
Universal Music Group N.V. (UMG) reported a Q4 EPS of €0.87, up from €0.80 YoY, with revenue increasing 9% YoY to €3.208 billion. Growth was driven by strong performance across all segments, particularly in recorded music subscription revenue, which grew 8.9% YoY. However, streaming revenue saw a slight decline of 1.3% YoY. Adjusted EBITDA rose 9.2% YoY to €677 million, with the margin steady at 21.1%. Top artists contributing to the success included Taylor Swift and The Rolling Stones.
February 28, 2024 | 4:49 pm
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Universal Music Group N.V. (UMG) reported a positive Q4 with EPS and revenue growth, driven by strong subscription revenue and contributions from top artists.
The positive earnings report, showing growth in revenue and EPS, indicates a strong financial performance by UMG. The growth in subscription revenue, despite a slight decline in streaming revenue, along with the contribution from top-selling artists, suggests a robust business model and strong market position. This is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price.
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