Thursday May 8
Warner Music Group 2Q loss widens on increased expenses
Warner Music Group, whose artists include R.E.M., Green Day, Red Hot Chili Peppers, says higher costs and a shift to digital music led to a wider second-quarter loss, and that it would suspend its dividend in order to build cash reserves and lower debt.
New York-based Warner Music Group Inc. lost $37 million, or 25 cents per share, compared with a smaller year-ago loss of $27 million, or 19 cents. Losses from continuing operations total 23 cents per share in the latest period.
Sales gained 2 percent to $800 million from $784 million. Read more
Posted by The Associated Press
Full Story: The Associated Press
Complete Coverage: 15 stories
- Fort Worth Star-Telegram - Warner Music Group 2Q loss widens on increased expenses
- The Toronto Star - Warner loss widens on increased expenses
- The Globe and Mail - Warner Music quarterly loss widens, drops dividend
- 12 more...
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