Universal Music Group NV
UMG: XAMS (NLD)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€58.00 | Dwfy | Fkmtqkqnpm |
Universal Music Earnings: Concerns About Generative AI Overshadows Continued Revenue Growth
Universal Music reported strong top-line growth as first-quarter revenue improved by 11%, or 9% in constant currency. The growth at recorded music and music publishing drove the improvement. Similar to its former parent, Vivendi, the firm reports only revenue and total company adjusted EBITDA for the first and third quarters. We are maintaining our narrow moat rating and our fair value estimate of EUR 31.