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Why Is Warner Music Stock Trading Higher On Wednesday?

Warner Music Group Corp (NASDAQ:WMG) stock traded higher on Wednesday after the company reported fiscal third-quarter 2024 results. GAAP EPS of $0.27 was in line with the analyst consensus estimate.  Revenue declined 0.6% year-on-year to $1.55 billion, marginally missing the analyst consensus estimate of $1.56 billion. Recorded Music revenue declined by 2.4% Y/Y at $1.25 billion in the quarter. Music Publishing revenue increased by 7.8% year over year to $305 million, and Digital revenue increased by 5% year over year to $1.08 billion. Adjusted OIBDA increased by 6.4% compared to the ...