05/08: WMG Reports Q2 Revenue; Bigger Loss
WMG has reported their second quarter revenue and the news isn't good as they lost more than expected.
Warner Music Group Corp. (NYSE:WMG - News) posted a wider quarterly loss on Tuesday, hurt by soft music sales, and said it would cut about 400 jobs as it shifts resources to boost digital distribution of music and video. ...
The world's fourth-largest music company reported a fiscal second-quarter net loss of $27 million, or 19 cents a share, compared with a loss of $7 million, or 5 cents a share, a year earlier.
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