UPDATE: Universal Music Group N.V. FY23 EPS €0.87 Vs €0.80 YoY; Q4 Revenue €3.208 Billion, Up 9% YoY
Portfolio Pulse from Benzinga Newsdesk
Universal Music Group N.V. (UMG) reported a FY23 EPS of €0.87, up from €0.80 YoY, with Q4 revenue rising 9% YoY to €3.208 billion. This 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 increased by 9.2% YoY to €677 million, with the EBITDA margin remaining stable at 21.1%. Top sellers included Taylor Swift and The Rolling Stones.
February 28, 2024 | 4:53 pm
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Universal Music Group N.V. (UMG) reported a positive FY23 EPS growth and a 9% increase in Q4 revenue, indicating strong performance across all segments.
The positive earnings report, with a notable increase in EPS and revenue, particularly from high-growth areas like music subscriptions, suggests a strong financial health and operational performance for UMG. This is likely to be viewed positively by investors, potentially leading to a short-term uptick in stock price.
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IMPORTANCE 90
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