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Dec 31, 2025
WMG Q1 2026 Earnings Report
Warner Music Group delivered strong first-quarter results with double-digit revenue growth and margin expansion.
Key Takeaways
Warner Music Group reported solid Q1 FY2026 performance with 10% revenue growth, higher operating income, and strong Adjusted OIBDA driven by streaming momentum across Recorded Music and Music Publishing.
Revenue increased 10% year over year driven by Recorded Music and Music Publishing
Operating income rose 35% reflecting strong operating leverage
Adjusted OIBDA margin expanded to over 25%
Streaming revenue growth accelerated across both segments
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Management reaffirmed confidence in FY2026 with expectations for continued growth and margin expansion.
Positive Outlook
- Continued streaming growth momentum
- Ongoing market share gains
- Further margin expansion expected
- Cost savings initiatives progressing
- Strong slate of upcoming releases
Challenges Ahead
- Foreign exchange volatility
- Potential variability in consumer demand
- Competitive dynamics in streaming platforms
- Execution risk on transformation initiatives
- Macroeconomic uncertainty
Historical Earnings Impact
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Avg. Return Before/After Earnings
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