Overview

• Warner Music Group reported a net loss of $16 million in its fiscal third quarter, down from net income of $141 million a year earlier, and its operating income declined to $169 million from $207 million
• The company said the loss reflected about $9 million in CFO departure expenses, $68 million in restructuring and impairments, $12 million in amortization, $70 million in exchange-rate losses on euro-denominated debt and $8 million in hedging losses
• Streaming revenues climbed 4% to $895 million, and total revenue rose 8.7% year over year to $1.68 billion
• Recorded music revenue reached $1.35 billion, buoyed by $16 million in digital settlement income, and music publishing revenue climbed 10.2% to $336 million with synch licensing up 28.6%
• CEO Robert Kyncl said the company will continue investing in high-potential artists, songwriters and catalog expansion while CFO Armin Zerza emphasized targeted capital deployment to boost creative and financial impact