Warner Music Group (NASDAQ:WMG) saw its shares fall more than 7% yesterday after fourth-quarter earnings that missed analyst expectations, despite slight revenue growth.

The company posted adjusted earnings per share of $0.08, significantly below the Street consensus estimate of $0.28. However, revenue for the quarter reached $1.63 billion, exceeding analyst projections of $1.59 billion.

Total revenue increased 2.8% year-over-year, or 2.9% in constant currency. Recorded Music revenue rose 3.6% to $1.34 billion, driven by modest growth in streaming revenue, which edged up 1%. Music Publishing revenue, however, declined by 1% to $295 million. Digital revenue remained largely unchanged compared to the prior-year quarter. Excluding certain one-time items, total revenue would have grown 5.8%.

Despite the earnings miss, Warner Music emphasized its ability to navigate a rapidly evolving market, highlighting its adaptability and resilience.