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Warner Music Group WMG Q2 2026 earnings

Reported May 7, 2026 · After market close

Revenue$1.7BBeat by $119.7M
EPS$0.44Beat by $0.14
Revenue estimate$1.6B
EPS estimate$0.30

Next report

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

Financials

Q2 2026

Income statement

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Revenue$1.7B+16.7%
Gross profit$802.0M+15.7%
Operating income$264.0M+57.1%
Net income$183.0M+408%

Balance sheet

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Cash & equivalents$741.0M+16.3%
Total debt$895.0M-79.0%
Total equity$738.0M+30.2%
Total assets$10.6B+10.9%

Cash flow

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Operating cash flow$126.0M+82.6%
CapEx$27.0M-25.0%
Free cash flow$99.0M+200%

Valuation & ratios

Valuation

as of 03/31/26
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Market cap$13.34B-18.2%
Enterprise value$13.49B-32.3%
P/E29.5×-6.6×
P/S1.9×-0.7×

Profitability

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Gross margin45.8%-1.0pp
Operating margin12.1%+0.6pp
Net margin6.3%-0.8pp
FCF margin10.2%-1.8pp

Returns & leverage

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Return on equity69.3%-21.1pp
Debt / equity1.2×-6.3×
Current ratio0.7×+0.1×

Segments

By product

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Digital$1.2B+16.5%
Artist services and expanded-rights$164.0M+40.2%
Physical$137.0M+22.3%
Licensing$104.0M-1.0%
Performance$58.0M+9.4%

By segment

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Recorded Music$1.4B+17.4%
Music Publishing$353.0M+13.9%

FAQ

When did Warner Music Group report Q2 2026 earnings?
Warner Music Group (WMG) reported Q2 2026 earnings on May 7, 2026 after market close.
What were Warner Music Group's Q2 2026 revenue and EPS?
Warner Music Group reported revenue of $1.7B and eps of $0.44 for Q2 2026.
Did Warner Music Group beat estimates in Q2 2026?
Revenue beat the consensus estimate of $1.6B by $119.7M. EPS beat the consensus estimate of $0.30 by $0.14.
How did Warner Music Group's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 16.7% from $1.5B a year earlier and eps grew 528.6% from $0.07.
Where can I find Warner Music Group's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001319161-26-000021) and the 10-Q periodic report (0001319161-26-000022) directly on SEC EDGAR. The filing index links above go to sec.gov.