(Reuters) – Universal Music Group, the label representing Taylor Swift, BTS and Drake, on Wednesday posted a higher second-quarter core profit margin, helped by strong growth in recorded music and merchandising.
Its quarterly margin on adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) was 21.9%, up from 20.0% a year earlier.
Adjusted EBITDA rose 16.4% to 590 million euros ($653 million), higher than a company-provided consensus of 547 million euros.
($1 = 0.9030 euros)
(Reporting by Alessandro Parodi; Editing by Toby Chopra)
