Warner Music Group - CL

Below is Dolphin Research's Trans of the FY2025 earnings call for $Tencent Music(TME.US) and $TME-SW(01698.HK).

For our earnings take, see 'Tencent Music: Soda Music's big push — are the easy days over?'

I. Key takeaways

1) Shareholder returns: announced a FY2025 cash dividend of $0.24 per ADS, with total payout approx. $368mn, a sharp increase vs. last year. The buyback program still has sizable remaining authorization and will continue subject to market conditions...