Warner Music just announced a loss for their latest quarter, but it was lower than most analsysts expected and was coupled with better revenues than expected and a strong performance in digital music sales.
Revenue rose to $796 million from $767 million a year earlier. In the fast-growing digital segment, the company posted revenue of $90 million, nearly triple a year earlier and representing 11 percent of quarterly revenue.
Warner Music is becoming the standard for digital music and are proving the the future really is digital. All in all this was a decent showing by Warner and one which proves they are back on a growth path (finally).
These results should see EMI improve their offer to buy Warner Music. The combination of the two would create a powerful industry leader and specialist.