© Reuters. FILE PHOTO: The brand of Common Music Group (UMG) is seen at a constructing in Zurich, Switzerland July 20, 2021. REUTERS/Arnd Wiegmann/File Picture
AMSTERDAM (Reuters) – Common Music Group NV (AS:), the file label behind lots of the music business’s largest stars, on Wednesday reported a 12% rise in third quarter core earnings to 426 million euros ($494 million), consistent with firm forecasts.
UMG’s earnings earlier than curiosity, taxes, depreciation and amortization (EBITDA) in contrast with 380 million euros in the identical interval a yr in the past.
It was the primary time UMG has printed earnings as an unbiased public firm after it was spun off from former father or mother Vivendi (OTC:) in September in Europe’s largest itemizing of the yr.
($1 = 0.8627 euros)
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