UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-32502 Warner Music Group Corp. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 1 ...

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For the quarter ended December 2025, Warner Music Group Corp. (WMG) reported revenue of $1.84 billion, up 10.4% over the same period last year. EPS came in at $0.33, compared to $0.45 in the year-ago quarter.The reported revenue represents a surprise of +3.95% over the Zacks Consensus Estimate of $1.77 billion. With the consensus EPS estimate being $0.40, the EPS surprise was -16.69%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to W ...

Warner Music Group Corp. (WMG) came out with quarterly earnings of $0.33 per share, missing the Zacks Consensus Estimate of $0.4 per share. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -16.69%. A quarter ago, it was expected that this company would post earnings of $0.35 per share when it actually produced earnings of $0.21, delivering a surprise of -40%.Over the last four quarters, the co ...

Warner Music Group (NasdaqGS:WMG) Q1 2026 Earnings call February 05, 2026 04:30 PM ET Company ParticipantsArmin Zerza - CFOBatya Levi - Managing Director - Communications, Media and InfrastructureBenjamin Black - Co-Head Internet Equity ResearchKareem Chin - Head of Investor RelationsKutgun Maral - Director, Equity Research - Media, Cable and TelecomRobert Kyncl - CEOConference Call ParticipantsCameron Manson-Perrone - Lead Analyst - Music and Live Entertainment, Media, and Cable/SatelliteIan Moore - Equity ...

Warner Music Group (NasdaqGS:WMG) Q1 2026 Earnings call February 05, 2026 04:30 PM ET Company ParticipantsArmin Zerza - CFOBatya Levi - Managing Director - Communications, Media and InfrastructureBenjamin Black - Co-Head Internet Equity ResearchKareem Chin - Head of Investor RelationsKutgun Maral - Director, Equity Research - Media, Cable and TelecomRobert Kyncl - CEOConference Call ParticipantsCameron Mansson-Perrone - Lead Analyst - Music and Live Entertainment, Media, and Cable/SatelliteIan Moore - Equit ...

Financial Data and Key Metrics Changes - Total revenue increased by 7%, driven by a 9% growth in recorded music subscription streaming on an adjusted basis [4][18] - Adjusted OIBDA rose by 22%, with a margin increase of over 300 basis points [18] - Operating cash flow grew by 33%, achieving nearly 100% conversion of adjusted OIBDA [18][19] - Cash balance increased by more than $200 million to $751 million [19] Business Line Data and Key Metrics Changes - Recorded music streaming saw subscription growth of 11% (9% adjusted for notable items) and ad-supported streaming grew by 4% [18] - Physical sales declined by 11% due to tough comparisons from the previous year [18] - Artist services and expanded rights revenue increased by 13%, primarily from concert promotion [18] - Music publishing revenue grew by 9%, with a 15% increase when adjusted for notable items [18] Market Data and Key Metrics Changes - U.S. streaming market share grew by approximately 1 percentage point year-over-year, with a 3 percentage point increase on Spotify's Top 200 chart [5] - Internationally, the company achieved number one hits in multiple countries, including France, Italy, and China [6] Company Strategy and Development Direction - The company focuses on three strategic priorities: growing market share, increasing the value of music, and driving efficiency [4][9] - AI is being leveraged to enhance artist discovery, marketing, and operational efficiency [10][12] - The company is committed to ethical AI practices, ensuring artists have control over their likeness and voice in AI-generated content [12][34] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, citing strong momentum and a healthy industry outlook [13][27] - The company anticipates continued growth driven by strategic investments and favorable DSP agreements [27][46] - Management highlighted the importance of adapting to market changes and leveraging new technologies for growth [36][46] Other Important Information - The company has renewed its deal with TikTok, resulting in improved deal economics [9] - A significant increase in the joint venture capacity with Bain from $1.2 billion to approximately $1.65 billion was announced [20][68] Q&A Session Summary Question: Can you expand on your AI philosophy and the financial impact of AI deals? - Management emphasized that AI initiatives align with their three strategic priorities and are designed to protect artists while creating value [31][34] - The financial impact from AI partnerships is expected to be material, with revenue sharing based on consumption [40][41] Question: What is the outlook for paid streaming growth and DSP deals? - Management noted that they are seeing volume-led subscription growth evolve into value-led growth, with opportunities for super premium tiers [46][47] Question: How is the company driving consistent market share growth? - Management attributed growth to a broad-based strategy, including restructuring and reinvestment in technology and A&R [52][53] Question: Can you provide details on margin targets and cash flow conversion? - Management indicated that margin expansion is driven by cost savings, high-margin streaming growth, and AI revenue, with a target of mid- to high-20s percentage margins [74][75]

FISCAL Q1 2026 Earnings Snapshot © Warner Music Group 2026 Confidential 1 Non-GAAP Financial Measures This presentation contains certain non-GAAP financial measures. We provide reconciliations to these non-GAAP financial measures to the most directly comparable GAAP financial measures in our earnings press release, which can be found on our website at investors.wmg.com. © Warner Music Group 2026 Confidential This presentation is a supplement to, and should be read in conjunction with, Warner Music Group's e ...

WARNER MUSIC GROUP CORP. REPORTS RESULTS FOR FISCAL FIRST QUARTER ENDED DECEMBER 31, 2025 Financial Highlights "We are delivering on our promises by combining significant transformation with accelerated growth and profitability, marking our third consecutive quarter of broad-based success," said Armin Zerza, CFO, Warner Music Group. "By fortifying our core through strategic investments and pioneering ethical AI partnerships, we have established a solid foundation to drive sustainable, long-term value for ou ...

Group 1 - Baidu has established a new personal super intelligence business group led by Wang Ying, aimed at enhancing AI application capabilities through better integration of talent and technology [2] - iQIYI's CFO Wang Jun has resigned for personal reasons, with senior vice president Zeng Ying appointed as the acting CFO [3] - TCL Technology has appointed Wang Cheng as CEO, while founder Li Dongsheng will remain as chairman [4][6] Group 2 - 360's Vice President of Public Relations Zhang Yongsheng has left the company [7] - Konka's President Cao Shiping has resigned but will continue to serve in another capacity [8] - Tongfang's former President and Chairman Lu Zhicheng has passed away at the age of 78 [9] Group 3 - Disney CEO Bob Iger plans to step down before the end of his contract, with Josh D'Amaro expected to be appointed as the new CEO [12] - Disney has established a new marketing and branding department led by Asad Ayaz [13] Group 4 - TikTok has formed a new U.S. data security company led by Adam Presser as CEO [14] - Apple has expanded hardware chief John Ternus's responsibilities to include design, solidifying his position as a potential successor to CEO Tim Cook [15] - Apple has experienced a wave of departures from its AI team, with at least four researchers leaving for companies like Meta and Google [16] Group 5 - Meta has appointed Dina Powell McCormick as President and Vice Chair, overseeing strategic initiatives [17] - NVIDIA has hired Alison Wagonfeld as its first Chief Marketing Officer [18] - NVIDIA board member Persis Drell has resigned for new career opportunities [20] Group 6 - xAI co-founder Greg Yang has left the company due to health issues but will remain as an informal advisor [21] - OpenAI has implemented a general manager responsibility system for its product lines [22] - Anthropic has appointed Irina Ghose as Managing Director for India [23] Group 7 - Paramount Skydance has appointed Dennis K. Cinelli as CFO [24] - Warner Music Group has named Hannah Karp as Chief Communications Officer [27] - Hark has hired former Apple designer Abidur Chowdhury as its design lead [28] Group 8 - Soitec has appointed Laurent Remont as its new CEO [29] - Black Box has named Sameer Batra as Chief Business Officer for its global systems integration business [30] - Kioxia Holdings has appointed Hiroo Oota as CEO [31] Group 9 - SoftBank has appointed Jun Shimba as Chairman [32] - Merck has appointed Benjamin Hein as CEO of its electronics business [35] - Sharp has announced leadership changes with Grace Dolan set to become the new President [38]