Filing Flows › Warner Music Group (WMG) › Q2 FY26 › vs Q1 FY26
Warner Music Group (WMG) Q2 FY26 vs Q1 FY26 (quarter over quarter)
Warner Music Group's revenue fell $108M (-6%) from $1.8B in Q1 FY26 to $1.7B in Q2 FY26. Operating margin 15.2% against 15.7% (-0.4 pts).
Warner Music Group, Q2 FY26: revenue $1.7B (+17% year over year), operating margin 15.2%, net earnings $183M, operating cash flow $126M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q2 FY26 | Q1 FY26 | Change | |
|---|---|---|---|
| Operating margin | 15.2% | 15.7% | -0.4 pts |
| Net margin | 10.6% | 9.6% | +1.0 pts |
Every line
| Line | Q2 FY26 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Revenue | $1.7B | $1.8B | −$108M | -6% |
| Operating profit | $264M | $288M | −$24.0M | -8% |
| Costs & expenses | $1.5B | $1.6B | −$84.0M | -5% |
| Pre-tax earnings | $254M | $246M | $8.0M | +3% |
| Other expense, net | $10.0M | $42.0M | −$32.0M | -76% |
| Cost of revenue | $930M | $987M | −$57.0M | -6% |
| SG&A | $460M | $458M | $2.0M | +0.4% |
| Other operating costs | $78.0M | $107M | −$29.0M | -27% |
| Loss borne by minority interests | $2.0M | $1.0M | $1.0M | +100% |
| Net earnings | $183M | $176M | $7.0M | +4% |
| Income tax | $73.0M | $71.0M | $2.0M | +3% |
| Depreciation & amortization | $103M | $99.0M | $4.0M | +4% |
| Working capital & other | $160M | −$165M | $325M | — |
| Operating cash flow | $126M | $440M | −$314M | -71% |
Questions
How much did Warner Music Group's revenue grow quarter over quarter in Q2 FY26?
Warner Music Group's revenue fell $108M (-6%) from $1.8B in Q1 FY26 to $1.7B in Q2 FY26. Operating margin 15.2% against 15.7% (-0.4 pts).