UPDATE: Universal Music Group N.V. FY23 EPS €0.87 Vs €0.80 YoY; Q4 Revenue €3.208 Billion, Up 9% YoY

Author: Benzinga Newsdesk | February 28, 2024 12:53pm

Summary Q4 2023 Results1

• Revenue of €3,208 million increased 9.0% year-over-year, or 15.6% in constant currency, driven by strong growth across all segments.
• Recorded Music subscription revenue grew 8.9% year-over-year, or 15.0% in constant currency and streaming revenue declined 1.3% year-over-year, but grew 5.6% in constant currency.
• Adjusted EBITDA of €677 million increased 9.2% year-over-year, or 15.1% in constant currency, and Adjusted EBITDA margin remained constant at 21.1% due in part to the headwind from a €15 million one-time item.
• Top sellers included Taylor Swift, The Rolling Stones, Drake, Jung Kook and Stray Kids.

Posted In: UNVGY