Get macromedia Flash Player
Search:
Home arrow ILMC Archive arrow Round The Clock News Archive arrow Warner Profits Worry
Warner Profits Worry

Net profits at Warner Music Group fell to $5m in the fiscal fourth quarter - down from $12m a year earlier. Revenues did rise, however, by 2% to $869m but declined 2% because of the weak dollar.

Net profits at Warner Music Group fell to $5m in the fiscal fourth quarter - down from $12m a year earlier. Revenues did rise, however, by 2% to $869m but declined 2% because of the weak dollar.

 

Digital sales grew 25% to generate $130m in the quarter, but album sales dropped 14% year-on-year and revenues from ringtones declined in the US. Total revenue fell 7% on a constant-currency basis in the year to September 30 against a backdrop descrobed by CEO Edgar Bronfman as "very challenging".
Further Information:
© ILMC 2007 | The ILMC Office 2-4 Prowse Place London NW1 9PH | Tel: +44 (0) 20 7284 5868 | Fax: +44 (0) 20 7284 1870