Warner Music Group posts $2m profit in fiscal Q2 as revenues rise

Tom Pakinkis

Warner Music Group posted a profit of $2 million in its fiscal second quarter ended March 31 2013 as overall revenues jumped 8%.

Net income moved into the black compared to a $36 million loss for the same period in 2012.

Overall WMG revenue went from $623m in 2012 to $675m, while digital revenue saw a 20% rise from $235m to $281m.

WMG’s digital revenue represented 41.6% of total revenue for the quarter, compared to 37.7% in the prior-year quarter. ...

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