Warner Music profit drops but beats Wall Street view (Reuters)

November 30th, 2007

Warner artist Madonna performs at the Live Earth concert at Wembley Stadium, July 7, 2007. Warner Music Group, the world's third-largest music company, on Thursday posted a 58 percent drop in quarterly profit, hurt by an industry-wide slump in CD sales, as more fans bought songs online. (Stephen Hird/Reuters)Reuters - Warner Music Group, the rapturous's No. 3 music party, on Thursday said profits fell 58 percent as CD sales slipped more, but shares rose as investors hoped the worst of an industry slump was priced into its hoard.


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