Universal Music Group N.V. Reports Q1 2024 Revenue Of €2.594 Billion, Up 5.8% YoY
Portfolio Pulse from Benzinga Newsdesk
Universal Music Group N.V. (UMG) reported a Q1 2024 revenue of €2.594 billion, marking a 5.8% increase YoY. The growth, attributed to all segments, was stronger in constant currency terms at 7.9%. EBITDA soared by 87.7% YoY to €490 million, with the EBITDA margin reaching 18.9% due to lower non-cash share-based compensation expenses. Adjusted EBITDA was €591 million, up 13.2% YoY, with its margin expanding to 22.8%, reflecting revenue growth, operating leverage, and savings from the equity plan rollout.

May 02, 2024 | 3:47 pm
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Universal Music Group's Q1 2024 earnings show significant revenue and EBITDA growth, with improved margins due to operational efficiencies and lower share-based compensation expenses.
The reported revenue and EBITDA growth, along with margin expansion, indicate a strong operational performance by Universal Music Group. The significant reduction in non-cash share-based compensation expenses and the positive impact of the equity plan rollout contribute to the company's financial health. These factors are likely to be viewed positively by investors, potentially leading to a short-term uptick in UNVGY's stock price.
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