Filing Flows › Warner Music Group (WMG) › Q2 FY26 › vs Q2 FY25
Warner Music Group (WMG) Q2 FY26 vs Q2 FY25 (year over year)
Warner Music Group's revenue rose $248M (+17%) from $1.5B in Q2 FY25 to $1.7B in Q2 FY26. Operating margin 15.2% against 11.3% (+3.9 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 Q2 FY25, the increases inside each band.
Margins
| Q2 FY26 | Q2 FY25 | Change | |
|---|---|---|---|
| Operating margin | 15.2% | 11.3% | +3.9 pts |
| Net margin | 10.6% | 2.4% | +8.1 pts |
| Free cash flow margin | 5.7% | 2.2% | +3.5 pts |
Every line
| Line | Q2 FY26 | Q2 FY25 | Change | % |
|---|---|---|---|---|
| Revenue | $1.7B | $1.5B | $248M | +17% |
| Operating profit | $264M | $168M | $96.0M | +57% |
| Costs & expenses | $1.5B | $1.3B | $152M | +12% |
| Pre-tax earnings | $254M | $65.0M | $189M | +291% |
| Other expense, net | $10.0M | $103M | −$93.0M | -90% |
| Cost of revenue | $930M | $791M | $139M | +18% |
| SG&A | $460M | $450M | $10.0M | +2% |
| Other operating costs | $78.0M | $75.0M | $3.0M | +4% |
| Loss borne by minority interests | $2.0M | $0 | $2.0M | — |
| Net earnings | $183M | $36.0M | $147M | +408% |
| Income tax | $73.0M | $29.0M | $44.0M | +152% |
| Depreciation & amortization | $103M | $90.0M | $13.0M | +14% |
| Working capital & other | $160M | $57.0M | $103M | +181% |
| Operating cash flow | $126M | $69.0M | $57.0M | +83% |
| Free Cash Flow (company-reported) | $99.0M | $33.0M | $66.0M | +200% |
| Capital expenditures | $27.0M | $36.0M | −$9.0M | -25% |
Questions
How much did Warner Music Group's revenue grow year over year in Q2 FY26?
Warner Music Group's revenue rose $248M (+17%) from $1.5B in Q2 FY25 to $1.7B in Q2 FY26. Operating margin 15.2% against 11.3% (+3.9 pts).