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# WMG Loss Widens, Cancels Dividends
- URL: https://www.hypebot.com/wmg-loss-widens/
- Published: 2008-05-08T04:05:00.000Z
- Updated: 2008-05-08T04:05:00.000Z
- Description: Warner Music Group representatives had a difficult time sounding optimistic this morning as the reported quarterly earnings: A loss of $28 million or $.23 per diluted share increased from a. Continue reading [https://www.hypebot.com/hypebot/2008/05/wmg-loss-widens.html]
- Author: Bruce Houghton
- Tags: Major Labels, music major labels, Warner Music, WMG, #wp, #wp-post, #Import 2026-01-21 11:06

Warner Music Group representatives had a difficult time sounding optimistic this morning as the reported quarterly earnings:

[![Wmg](https://hypebot.typepad.com/hypebot/images/2008/05/08/wmg.jpg "Wmg")](http://hypebot.typepad.com/.shared/image.html?/photos/uncategorized/2008/05/08/wmg.jpg&ref=hypebot.com)

- **A loss of $28 million** or $.23 per diluted share increased from a loss of $.19 in the prior year quarter
- "In an effort to increase its financial flexibility" WMG has **suspended** its previous policy of paying a **regular quarterly dividend.**
- **Digital revenue** was $164 million, or **21% of total revenue**, up 16% sequentially from $141 million in the first quarter of fiscal 2008 and up 48% from $111 million in the prior-year quarter.
- **Total revenue** of $800 million marked a **decline of nearly 4%** on a constant-currency basis

**MORE:** Silicon Alley Insiders asks if WMG will have **[trouble servicing its large debt](http://www.alleyinsider.com/2008/5/warner%5Fmusic%5F2q?ref=hypebot.com)**, [WMG press release](http://investors.wmg.com/phoenix.zhtml?c=182480&p=irol-newsArticle&ID=1141933&highlight=&ref=hypebot.com).