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Warner Music Group (WMG) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Nov 20, 2025
Warner Music Group (WMG) reported revenue of $1.9B for the fourth quarter fiscal 2025 (Q4 FY25), +15% from a year earlier and +11% from the quarter before. Operating margin was 7.7%, net earnings $109M (5.8% of revenue).
Warner Music Group, Q4 FY25: revenue $1.9B (+15% year over year), operating margin 7.7%, net earnings $109M, operating cash flow $231M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.9B | +11% | +15% |
| Operating profit | $143M | -15% | 0% |
| Net earnings | $109M | — | +127% |
| Operating cash flow | $231M | +402% | -24% |
| Free cash flow | $203M | — | -25% |
What changed
Revenue was $1.9B in Q4 FY25, up 15% year over year and up 11% from the previous quarter.
Operating profit was $0.14B, a 7.7% margin (down 1.1 points year over year). Of the extra revenue versus Q4 FY24, 0% reached operating profit, below the 9% margin then. Total costs grew 16% against revenue growth of 15%. The fastest-growing cost line was Other operating costs (+43%). Net earnings were $0.11B, up 166% year over year. The effective tax rate was -2.8%.
Operating cash flow was $0.23B (down 24% year over year), 212% of net earnings. Non-cash charges added back $0.10B of depreciation and amortization. Working capital and other items added $0.02B. After capital expenditures ($0.03B), free cash flow as the company reports it was $0.20B.
Questions
What was Warner Music Group's revenue in the fourth quarter fiscal 2025?
Warner Music Group (WMG) reported revenue of $1.9B for the fourth quarter fiscal 2025 (Q4 FY25), +15% from a year earlier and +11% from the quarter before.
Was Warner Music Group profitable in the fourth quarter fiscal 2025?
Operating profit was $143M (7.7% of revenue) and net earnings $109M.
Source: Warner Music Group 10-K on SEC EDGAR.