February 09, 2010

By By Glenn Peoples, L.A.

On the day Warner Music Group announced its fiscal Q1 earnings, the company?s stock closed up 4.7% to $5.02. Share prices were up about 7% in morning trading after falling 4.2% on Monday.

The company posted a net loss of $17 million, or 11 cents per share. According to Thomson Reuters, Wall Street analysts expected a loss of 14 cents per share. ?These numbers are encouraging relative to the industry-wide numbers," analyst Tuna Amobi, an analyst at Standard & Poor's, told Reuters. "There's no getting away from the challenging environment for CD sales.?

Year to date, WMG?s share price is down 11.3% while the NASDAQ composite is down 5.2% and the S&P 500 is down 4%.

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