Universal Music Group posts €3.29 billion second-quarter revenue, in line with estimates
Universal Music Group (UMG) reported second-quarter revenue of €3.29 billion, in line with analysts’ expectations. Second-quarter revenue, excluding foreign exchange effects, rose 13.3%. Second-quarter EBITDA came in at €610 million, below analysts’ estimate of €643 million. First-half net profit was €222 million, compared with analysts’ expectation of €730.3 million.