NASDAQ$WMG
Warner Music Group Corp · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Reported strong third-quarter results, propelled by streaming acceleration and recovery in COVID-impacted areas. Total revenue, digital revenue, and adjusted OIBDA experienced significant growth, driven by chart-topping new music and margin expansion.
Warner Music Group (WMG) reported strong Q3 2021 results, with total revenue up 33% and digital revenue up 29%. Net income was $61 million, a significant improvement from the prior-year quarter's net loss of $519 million. Adjusted OIBDA increased by 58% to $263 million, driven by strong operating leverage. The company highlighted impressive streaming numbers and recovery in COVID-impacted areas.
- Total revenue grew by 33%, driven by streaming acceleration and recovery in COVID-impacted areas.
- Recorded Music streaming revenue increased by 27%, powered by chart-topping new music.
- Digital revenue grew by 29%, representing 69.3% of total revenue.
- Net income was $61 million, a significant improvement from the prior-year quarter's net loss of $519 million.
Headline financials
Revenue & EPS history
WMG · Revenue · Quarterly
$1.34B
Revenue by segment
WMG · $1.34B total across 2 segments · Q3 2021
- Recorded Music$1.15B+33.8%85.9%
- Music Publishing$189M+26.8%14.1%
Forward guidance
This communication includes forward-looking statements that reflect the current views of Warner Music Group about future events and financial performance.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2021
-2.1%
Avg return
Earnings day
-1.0%
Avg return
5 days after
-2.3%
Avg return
30 days after
30%
7 / 23 earnings
Positive
+19.3%
Q4 2022
Best reaction
-11.2%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2025 | — | — | — | |
| Q2 2026 | +2.2% | +10.7% | -1.5% | |
| Q1 2026 | +3.1% | +5.6% | -1.2% | |
| Q4 2025 | -2.7% | -7.0% | -3.8% | |
| Q2 2025 | -8.1% | -8.7% | -12.4% | |
| Q1 2025 | -1.1% | +5.0% | +7.1% | |
| Q4 2024 | -5.4% | -3.8% | -7.5% | |
| Q3 2024 | +1.0% | -2.1% | -1.8% | |
| Q2 2024 | -11.2% | -9.8% | -17.2% | |
| Q1 2024 | -3.0% | -0.1% | -6.8% | |
| Q4 2023 | -3.2% | -1.1% | +2.3% | |
| Q3 2023 | +8.2% | +7.6% | +7.9% | |
| Q2 2023 | -8.0% | -11.2% | -13.0% | |
| Q1 2023 | -6.4% | -7.2% | -18.8% | |
| Q4 2022 | +19.3% | +20.8% | +31.2% | |
| Q3 2022 | -6.7% | -5.4% | -14.2% | |
| Q2 2022 | -6.9% | +6.6% | +3.6% | |
| Q1 2022 | -4.9% | -5.5% | -18.0% | |
| Q4 2021 | -9.7% | -10.4% | -13.1% | |
| Q3 2021 | -1.7% | -4.1% | +4.0% | |
| Q2 2021 | -6.7% | -4.3% | -9.3% | |
| Q1 2021 | +8.2% | +8.1% | +2.2% | |
| Q4 2020 | +0.6% | -2.5% | +30.7% | |
| Q3 2020 | -4.3% | -4.8% | -4.5% | |
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