Warner Music Group Corp. has recently released its 10-Q report, providing a detailed insight into its financial performance and operations for the fiscal quarter ended June 30, 2024. The company, founded in 1929 and headquartered in New York, operates as a music entertainment company, with a focus on Recorded Music and Music Publishing segments. The Recorded Music segment involves the discovery and development of recording artists, marketing, distribution, and licensing of music, while the Music Publishing segment owns and acquires rights to a vast catalog of musical compositions.
In the MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS section, Warner Music Group Corp. highlights the use of Adjusted OIBDA (Operating Income Before Depreciation and Amortization) as a key performance measure. It evaluates its operating performance based on Adjusted OIBDA, which is calculated by adjusting operating income to exclude non-cash expenses and certain items affecting comparability, such as gains or losses on divestitures and restructuring expenses. The company also emphasizes the use of constant-currency basis to present revenue and Adjusted OIBDA, enabling a better understanding of its operating results and performance in comparison to prior periods.
The company's business overview emphasizes its position as one of the world's leading music entertainment companies, with renowned record labels like Atlantic Records, Warner Records, Elektra Records, and Parlophone Records. Additionally, Warner Chappell Music, its global music publishing business, represents works by over 150,000 songwriters and composers, with a vast collection of musical compositions. The business is classified into two fundamental operations: Recorded Music and Music Publishing, each playing a crucial role in the company's overall performance.
Warner Music Group Corp.'s 10-Q report provides a comprehensive view of its financial condition, results of operations, and key measures used to evaluate its performance, offering investors and stakeholders a detailed understanding of the company's recent performance and future prospects. Following these announcements, the company's shares moved 1.9%, and are now trading at a price of $28.11. For more information, read the company's full 10-Q submission here.
