Warner Music Group revealed a somewhat familiar financial scorecard this morning, one that showed relatively flat revenues and growing losses. And, as expected, digital formats continued to gain, but failed to cover broader dips.
Specifically, revenues moved to $800 million for the three-month period
ending March 31st, up 2 percent from the year-ago period. Losses
widened to $37 million, broader than a year-ago drop of $27
million. Meanwhile, digital assets produced revenues of $164 million,
or 21 percent of the broader revenue total.
Measured on a constant-currency basis, top-line revenues actually declined 4 percent. Ahead of the bell, shares started at $9.05, a depressed figure that reflects ongoing investor skepticism on future growth prospects.
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