Warner Music Group Corp Dropped 4% Following Q4 Results
<p><a href='https://financialmodelingprep.com/financial-summary/WMG'>Warner Music Group Corp. (NASDAQ:WMG) </a>reported Q4 results, with revenue growth of 22.2% (or 20.8% in constant currency) to $1.38 billion, beating the consensus estimate by 1.4%. The beat was due to artist services and expanded-rights and physical revenue offsetting a slight miss at streaming. However, the stock price closed 3.77% lower on Tuesday, in part due to streaming revenue growth coming in modestly below expectations and emerging platform revenue being flat sequentially.</p>
<p>Looking to 2022, management did not provide formal guidance though it noted that its expectations for total revenue and adj. EBITDA growth rates remain largely in line with its internal expectations at the time of the IPO. Analysts at RBC Capital increased their revenue estimate by 3.4% to $5.94 billion (+12.0% year-over-year) and their adj. EBITDA forecast by 3.8% to $1.24 billion (+14.5% year-over-year) largely on higher artist services/expanded rights assumptions.</p>

NASDAQ:WMG