Universal Music Group 1Q Earnings, Revenue Rose
04 May 2022 - 2:38AM
Dow Jones News
By Cecilia Butini
Universal Music Group NV on Tuesday reported higher earnings and
revenue for the first quarter, driven by growth in all of its
segments.
The world's largest music company, which is home to artists such
as Justin Bieber and Taylor Swift, posted earnings before interest,
taxes, depreciation and amortization of 454 million euros ($477.1
million) for the quarter, up from EUR395 million the previous year.
Adjusted earnings before interest, taxes, depreciation and
amortization rose to EUR455 million from EUR396 million the year
prior. Revenue grew 21.6% and reached EUR2.20 billion, from EUR1.81
billion in the same quarter of 2021, the company said.
Revenue in recorded music amounted to EUR1.72 billion in the
quarter, which was up 16% from the previous year, while
subscription and streaming revenue grew by 19.9% in the quarter,
Universal said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
May 03, 2022 12:23 ET (16:23 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Universal Music Group NV (EU:UMG)
Historical Stock Chart
From Apr 2024 to May 2024
Universal Music Group NV (EU:UMG)
Historical Stock Chart
From May 2023 to May 2024