Warner Music Group stock took a hit Monday despite reporting that Q4 revenue was up 21% last quarter and 15% in the last year.
That translated to fourth-quarter earnings WMG of 12 cents per share on revenue of $1.376 billion. Analysts had expected earnings of 15 cents per share on revenue of $1.353 billion.
As a result. WMG stock closed Monday at $45.35 down $3.00 for a drop of 6.20%.
WMG’s earning, though solid, lacked the luster of UMG’s impressive recent IPO and earnings report.
