Warner Music Stock Rises After Preliminary Results Show Stronger Profit And Cash Flow

Warner Music Group Corp. (NASDAQ: WMG ) shares traded higher Monday after the company released preliminary third-quarter results and moved its earnings announcement to Aug. 5 from Aug. 6. The gain came alongside broader market strength as investors assessed the company’s early financial update. Preliminary Revenue Rises 10% Warner Music estimated third-quarter revenue increased 10% year over year to $1.864 billion, supported by growth across recorded music, publishing and digital operations. Recorded Music revenue increased 10% to $1.488 billion, while Music Publishing revenue grew 12% to $377 million. Digital revenue climbed 11% to $1.251 billion, led by 12% growth in Recorded Music streaming revenue to $1.001 billion. Music Publishing digital revenue rose 15% to $235 million. Operating Performance Lifts Profit And Cash Flow Operating income jumped 80% to $305 million, while adjusted...