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Warner Music Group WMG Q1 2026 earnings

Reported February 5, 2026 · After market close

Revenue$1.8BBeat by $67.2M
EPS$0.33Miss by $0.07
Revenue estimate$1.8B
EPS estimate$0.40

Next report

Nov 19, 2026 (in 2 months)
Revenue estimate$1.9B
EPS estimate$0.38

Financials

Q1 2026

Income statement

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Revenue$1.8B+10.4%
Gross profit$853.0M+10.5%
Operating income$288.0M+34.6%
Net income$176.0M-25.4%

Balance sheet

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Cash & equivalents$751.0M-6.4%
Total debt$542.0M-87.2%
Total equity$720.0M+32.1%
Total assets$10.0B+9.5%

Cash flow

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Operating cash flow$440.0M+32.5%
CapEx$20.0M-44.4%
Free cash flow$420.0M+41.9%

Valuation & ratios

Valuation

as of 12/31/25
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Market cap$16.02B-0.2%
Enterprise value$15.81B-18.8%
P/E52.5×+21.2×
P/S2.3×-0.2×

Profitability

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Gross margin45.9%-1.0pp
Operating margin11.2%+0.4pp
Net margin4.4%-3.6pp
FCF margin9.6%-1.8pp

Returns & leverage

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Return on equity48.2%-53.4pp
Debt / equity0.8×-7.0×
Current ratio0.7×0.0×

Segments

By product

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Digital$1.2B+10.3%
Artist services and expanded-rights$231.0M+17.9%
Physical$152.0M-8.4%
Licensing$121.0M+10.0%
Performance$64.0M+14.3%

By segment

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Recorded Music$1.5B+10.0%
Music Publishing$362.0M+12.1%

FAQ

When did Warner Music Group report Q1 2026 earnings?
Warner Music Group (WMG) reported Q1 2026 earnings on February 5, 2026 after market close.
What were Warner Music Group's Q1 2026 revenue and EPS?
Warner Music Group reported revenue of $1.8B and eps of $0.33 for Q1 2026.
Did Warner Music Group beat estimates in Q1 2026?
Revenue beat the consensus estimate of $1.8B by $67.2M. EPS missed the consensus estimate of $0.40 by $0.07.
How did Warner Music Group's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 10.4% from $1.7B a year earlier and eps declined 26.7% from $0.45.
Where can I find Warner Music Group's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001193125-26-038593) and the 10-Q periodic report (0001319161-26-000010) directly on SEC EDGAR. The filing index links above go to sec.gov.