Universal Music Group Q3 Revenue Grows As Streaming Offsets Sales Declines | Billboard

BillBoard| Mon Nov 20 10:38:31 EST 2017
The Universal Music Group saw operating profits fall to €161 million ($188.2 million) in the third quarter ended Sept. 30, down 7.9 percent from €174 million ($192 million) in the same period last year. But revenues rose by almost one percent (0.08 percent) to €1.32 billion ($1.54 billion), from last year's €1.31 billion ($1.45 billion). UMG reported overall earnings before interest, taxes, depreciation and amortization (EBITDA) at €167 million ($195.2 million), a 15.8 percent decline from Q3 2016's €198 million ($219.6 million). However, the decline in operating revenue and EBITDA was due to unfavorable exchange rates in the current period, as well as a one-time gain in the earlier period. ..

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