Warner Music Group Corp. (NASDAQ: WMG) reported Q2 EPS of $0.23, $0.08 better than the analyst estimate of $0.15. Revenue for the quarter came in at $1.25 billion versus the consensus estimate of $1.18 billion.

For the three months ended March 31, 2021

• Total revenue grew 17% or 13% in constant currency
• Digital revenue grew 23% or 20% in constant currency
• Net income was $117 million versus net loss of $74 million in the prior-year quarter
• OIBDA increased to $228 million versus $12 million in the prior-year quarter
• Adjusted OIBDA increased 21% to $255 million versus $210 million in the prior-year quarter
• Adjusted EBITDA increased 25% to $268 million versus $214 million in the prior-year quarter

“Following a strong first quarter, I’m happy to report that our momentum continued in Q2, and our business is stronger than ever. Despite the ongoing pandemic, we generated double-digit revenue growth in both Recorded Music and Music Publishing,” said Steve Cooper, CEO, Warner Music Group. “Our success was driven by chart-topping new releases from our incredible artists and songwriters, as well as bold and imaginative execution from our world-class operators. We’re excited about the rest of year, as we have a fantastic slate of new music coming from established superstars and emerging talent.”

“In the second quarter, the continued strength of our core streaming business was bolstered by impressive growth in revenue from emerging streaming platforms, which drove healthy margins and free cash flow,” added Eric Levin, Executive Vice President and CFO, Warner Music Group. “We look forward to delivering long-term value as we continue to invest in culture-shifting talent, innovative technology, and dynamic new partnerships.”

For earnings history and earnings-related data on Warner Music Group Corp. (WMG) click here.