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Warner Music Group (WMG) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Nov 21, 2024
Warner Music Group (WMG) reported revenue of $1.6B for the fourth quarter fiscal 2024 (Q4 FY24), +3% from a year earlier and +5% from the quarter before. Operating margin was 8.8%, net earnings $41.0M (2.5% of revenue).
Warner Music Group, Q4 FY24: revenue $1.6B (+3% year over year), operating margin 8.8%, net earnings $41.0M, operating cash flow $304M. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | +5% | +3% |
| Operating profit | $143M | -31% | -33% |
| Net earnings | $41.0M | -71% | -73% |
| Operating cash flow | $304M | +62% | -10% |
| Free cash flow | $271M | — | -10% |
What changed
Revenue was $1.6B in Q4 FY24, up 3% year over year and up 5% from the previous quarter.
Operating profit was $0.14B, a 8.8% margin (down 4.6 points year over year). Operating profit fell $0.07B even though revenue rose $0.04B versus a year earlier, so costs grew faster than sales. Total costs grew 8% against revenue growth of 3%. The fastest-growing cost line was Other operating costs (+146%). Net earnings were $0.04B, down 73% year over year. The effective tax rate was 5.9%.
Operating cash flow was $0.30B (down 10% year over year), 633% of net income including minority interests. Non-cash charges added back $0.08B of depreciation and amortization. Working capital and other items added $0.17B. After capital expenditures ($0.03B), free cash flow as the company reports it was $0.27B.
Questions
What was Warner Music Group's revenue in the fourth quarter fiscal 2024?
Warner Music Group (WMG) reported revenue of $1.6B for the fourth quarter fiscal 2024 (Q4 FY24), +3% from a year earlier and +5% from the quarter before.
Was Warner Music Group profitable in the fourth quarter fiscal 2024?
Operating profit was $143M (8.8% of revenue) and net earnings $41.0M.
Source: Warner Music Group 10-K on SEC EDGAR.