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Universal Music Group reports 12% rise in Q3 core earnings -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A building in Zurich (Switzerland) shows the logo for Universal Music Group (UMG). This was taken on July 20, 2021. REUTERS/Arnd Wiegmann/File Photo

AMSTERDAM (Reuters), Universal Music Group NV / AS:, the record label that is behind so many music stars in the world, announced Wednesday that it saw a 12% jump in its third quarter core earnings to 426m euros (494 million) in line with the company’s forecasts.

UMG’s earnings (before interest, taxes depreciation, amortization, and amortization) were lower than the 380 million euro earned in that same time period last year.

UMG’s first earnings were published as an independent public company following its spin-off of former parent Vivendi. (OTC:), September was Europe’s biggest listed company.

($1 = 0.8627 euros)

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