WMG EARNINGS: THE GOOD, THE BAD & THE UGLY

WMG broke out its fiscal Q4 results for the three months ending on 12/31. (Seems like we just did this.)

On a constant-currency basis, total revenue grew 7% to $829m, digital revenue increased 14% to $295m, recorded-music revenue was up 8% to $714m and publishing revenue was down 7% to $119m. The bunny’s net loss increased to $41m vs. $36 million a year earlier.

The company reported a cash balance of $145m, total debt of $3.02b and net debt (total long-term debt, including the current portion, minus cash) of $2.87b.

“Some strong new releases, as well as outstanding execution by our operators around the world during the holiday season, made for an excellent start to our fiscal year,” said CEO Steve Cooper, who’s kept a low profile of late. “Our extraordinary roster of songwriters and artists, combined with our first-class management team and our sustained investment in new opportunities, means that we are well-positioned to build on this success as the industry evolves.”

“We are pleased with our top line performance as well as our improved free cash flow,” added EVP/CFO Eric Levin. “We remain keenly focused on growth and managing our expenses.”

Len Blavatnik didn't say anything.