According to Hits Daily Double:
Warner Music Group reported a 1% increase in revenues to $861 million (5% on a constant currency basis) for the quarter ending Sept. 30, while digital revenue grew by 10% to $184 million, acoounting for 21% of all quarterly revenues. But not all was good news, as the company posted a loss of 18 million (12-cents per share), the result in part of severance costs. On the year, losses hit $100 million, compared to $56 million a year ago, while revenues were down 9% to $3.176 billion.
So they increase revenues but lost money… because they laid people off.
Business math is fun
