NASDAQ$WMG
Warner Music Group Corp · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported strong Q4 performance with growth across all revenue lines and margin expansion in constant currency.
Warner Music Group Corp. reported a strong fourth quarter with revenue growth of 9% (16% in constant currency) and net income of $150 million, driven by digital revenue growth and strong performance in both Recorded Music and Music Publishing.
- Total revenue grew by 9% or 16% in constant currency.
- Digital revenue grew by 7% or 12% in constant currency.
- Net income increased to $150 million compared to $30 million in the prior-year quarter.
- Adjusted OIBDA increased 22% to $265 million versus $218 million in the prior-year quarter, or 33% in constant currency.
Headline financials
Revenue & EPS history
WMG · Revenue · Quarterly
$1.5B
Revenue by segment
WMG · $1.5B total across 2 segments · Q4 2022
- Recorded Music$1.24B+6.1%83.0%
- Music Publishing$254M+23.9%17.0%
Forward guidance
The company is excited about upcoming releases from top artists and collaborations in music, film, TV, social media, fitness, and gaming.
Tailwinds
- Amazing releases from the world’s hottest artists
- Innovative tech collaborations
- Strengthened position at the intersection of music, film, TV
- Strengthened position at the intersection of social media, fitness, and gaming.
- Long-term creative success
Headwinds
- Challenging macro environment
- Market-related slowdown in ad-supported revenue
- Impact of exchange rates
- Revenue mix due to the growth of lower-margin artist services and expanded-rights revenue
- Shift in the timing of the financial transformation initiative.
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 Q4 2022
-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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