toggle

AAPL Stock: 126.22 ( + 0.79 )

Printed from http://www.macnn.com

Digital sales drive Warner Music profit

updated 08:55 am EST, Tue February 14, 2006

Warner Music profit

Warner Music Group on Tuesday said that its quarterly profit nearly doubled due to higher margin digital music sales during the holiday season and lower expenses. Reuters reports that the company's net income for the first quarter ended on Dec. 31 rose to $69 million, or 46 cents per share, from $36 million, or 31 cents per share, a year earlier, while revenue fell 4 percent to $1.04 billion--due to the exchange-rate fluctuations and the May 2005 sale of its sheet music business, which had contributed $15 million in the year-earlier period. The report says that Warner's digital revenue rose to $69 million, up 30 percent from the fourth quarter, and nearly triple that of a year earlier, due in part to online music sales at services such as Apple iTunes music store and Napster as well as mobile ringtones. Interesting, the US accounted for about 70 percent of digital music sales, which were split evenly between Internet downloads and ringtones.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Comments are closed.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Prong PWR Case

Ultimately there's one thing we all want from smartphone accessories; we want options. When it comes to keeping our iPhone charged, w ...

iHome iBT74 Color Changing Bluetooth Speaker

There's no reason why your tech can't look good while doing what it was designed to do. That's the reason that sports cars look goo ...

Logitech Gaming Daedalus Prime Mouse

Logitech Gaming continues to expand upon its peripherals line, with each one looking to fit neatly into a breadth of gaming needs. Bui ...

toggle

Most Commented