Universal Music Group NV (UMG) (UMG.AS) on Thursday reported a 19% rise in full-year core earnings for 2021, in line with expectations, due to growing revenue from streaming services and ad-supported social media platforms.
UMG’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at 1.79 billion euros ($1.98 billion), compared with 1.50 billion euros in 2020.
Analysts had forecast 2021 EBITDA at 1.78 billion euros, according to Refinitiv data. Earnings per share for 2021 were 0.49 euros, the company said.
Universal indicated that EPS was impacted by the fall in value of its stakes in two listed companies, Spotify (SPOT.N) and Tencent Music (TME.N)