NASDAQ$WMG
Warner Music Group Corp · Q3 2025 earnings
Q3 2025 earnings · · After market close · Investor relations
Briefing
Warner Music Group Corp reported revenue growth and higher operating income for the third quarter ended June 30, 2026.
Warner Music Group Corp delivered total revenues of $1.864 billion in Q3 2026, up 10% year-over-year, driven by strength in streaming and artist services. Operating income rose to $305 million and net income reached $200 million. Adjusted OIBDA increased to $433 million, reflecting operational leverage and cost discipline.
- Total revenues grew 10% to $1.864 billion, with digital revenue up 11% to $1.251 billion.
- Recorded Music revenues increased 10% to $1.488 billion while Music Publishing rose 12% to $377 million.
- Operating income more than doubled to $305 million and Adjusted OIBDA rose 16% to $433 million.
- U.S. revenues grew 8% to $781 million and international revenues grew 12% to $1.084 billion.
Headline financials
Revenue & EPS history
WMG · Revenue · Quarterly
$1.69B
Revenue by segment
WMG · $1.87B total across 2 segments · Q3 2025
- Recorded Music$1.49B—79.8%
- Music Publishing$377M—20.2%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
-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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