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Warner Music Group WMG Q3 2026 earnings

Reported August 5, 2026 · After market close

Revenue$1.9BBeat by $54.5M
EPS$0.39Beat by $0.05
Revenue estimate$1.8B
EPS estimate$0.34
“For the fifth consecutive quarter, WMG has delivered or over-delivered on our targets, proving the strength of our strategy and the momentum of our business. Our performance - driven by robust subscription streaming growth, market share gains, and disciplined operating leverage - highlights our ability to champion human creativity while deploying tech and AI to scale long-term profitability. We are closing the year with sharp operational focus and strong positioning to generate compounding value for our artists, songwriters, and shareholders for many years to come.”
Robert Kyncl

Next report

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

Financials

Q3 2026

Income statement

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Revenue$1.9B+10.4%
Gross profit$854.0M+10.1%
Operating income$305.0M+80.5%
Net income$204.0M+1,375%
EPS (diluted)$0.39+1,400%

Balance sheet

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Cash & equivalents$618.0M+17.3%
Total debt$875.0M-79.7%
Total equity$854.0M+45.0%
Total assets$10.7B+9.7%

Cash flow

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Operating cash flow$142.0M+209%
CapEx$28.0M-28.2%
Free cash flow$114.0M+1,529%

Valuation & ratios

Valuation

as of 10/02/26
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Market cap$14.15B-20.6%
Enterprise value$14.41B-19.2%
P/E21.1×-27.8×
P/S1.9×-0.7×

Profitability

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Gross margin45.8%-0.9pp
Operating margin13.7%+3.0pp
Net margin9.2%+4.6pp
FCF margin11.4%+2.1pp

Returns & leverage

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Return on equity93.1%+37.7pp
Debt / equity1×-6.3×
Current ratio0.7×+0.1×

Segments

By product

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Digital$1.3B+10.4%
Artist services and expanded-rights$224.0M+14.9%
Physical$137.0M+15.1%
Licensing$111.0M0.0%
Synchronization$60.0M+11.1%

By segment

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Recorded Music$1.5B+9.9%
Music Publishing$377.0M+12.2%

FAQ

When did Warner Music Group report Q3 2026 earnings?
Warner Music Group (WMG) reported Q3 2026 earnings on August 5, 2026 after market close.
What were Warner Music Group's Q3 2026 revenue and EPS?
Warner Music Group reported revenue of $1.9B and eps of $0.39 for Q3 2026.
Did Warner Music Group beat estimates in Q3 2026?
Revenue beat the consensus estimate of $1.8B by $54.5M. EPS beat the consensus estimate of $0.34 by $0.05.
How did Warner Music Group's Q3 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 10.4% from $1.7B a year earlier.
Where can I find Warner Music Group's Q3 2026 SEC filings?
You can read the 8-K earnings release (0001193125-26-329621) and the 10-Q periodic report (0001319161-26-000032) directly on SEC EDGAR. The filing index links above go to sec.gov.