Warner posts loss
Tuesday, Feb 9th 2010 at 12:01PMThe major announced the loss, which compares to a profit of $23m (?14.8m) in the equivalent quarter of 2008, this morning.
It comes as revenue from the company's recorded music business fell 2.2% on a constant currency basis to $783m (?503m), with the company blaming "contracting demand for physical product and difficult economic conditions (which) negatively impacted global physical revenue and international licensing revenue".
At the company's publishing arm, revenue was flat on a constant currency basis at $141m (?90.5m).
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