Warner Music Group Corp. on Tuesday (Feb. 14) said quarterly profit rose 91%, driven by stronger sales of higher-margin digital songs during the holiday season.

Warner Music Group Corp. on Tuesday (Feb. 14) said quarterly profit rose 91%, driven by stronger sales of higher-margin digital songs during the holiday season.

Warner, home to artists including Madonna, Green Day and James Blunt, said net income rose to $69 million, or 46 cents per share, for the first quarter ended December 31, from $36 million, or 31 cents per share, a year earlier.

Revenue dropped to $1.04 billion from $1.09 billion, falling short of analysts' estimates of $1.09 billion, according to Reuters Estimates.

Revenue from its recorded music business decreased 2% to $920 million. However, digital revenue was $69 million, up 30% from the fourth quarter, and nearly triple levels of a year earlier.

Led by sales of music from artists including Madonna, Enya, and Notorious B.I.G., total recorded music operating income rose 9% to $166 million.
-- Reuters