UPDATE: Warner Music Group Reports FQ2 Net Loss of $38 million

Warner Music Group Corp WMG released its fiscal second-quarter results on Tuesday. The company posted a FQ2 net loss of $38 million, or $0.25 per share, versus a loss of $25 million, or $0.17 per share, in the year-earlier period. The latest quarter results include a $0.05 per share impact from severance charges. Its revenue surged to $682 million. The group's digital revenue increased 9% y/y to $220 million. However, analysts were estimating a loss of $0.28 per share on revenue of $610 million. WMG shares gained 0.12% to close at $8.19 yesterday. Read more from Benzinga's Company news.