Warner Music Group Corp. on Monday said its fourth-quarter net income rose to $28 million, or 5 cents a share, from a loss of $1 million, or breakeven on a per-share basis, in the year-ago period. Revenue rose to $1.38 billion from $1.13 billion. Adjusted net income rose to $69 million from $20 million in the prior-year quarter. Analysts expected the company to earn 15 cents a share on revenue of $1.35 billion, according to a survey by FactSet. Shares of Warner Music Group are up 27.3% so far in 2021, compared to a rise of 24.7% by the S&P 500.
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