SONG - Fiscal Results Send Shares of this Music Licensing Firm on a Tear

2024-02-26 15:34:53 ET

With notable licensees, including TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and many others, this firm represents over 2,500,000 works that feature notable artists such as A Rocky, Wiz Khalifa, Pharrell, Young Jeezy, and countless others. Additionally, the company also owns royalty stakes in Listerine "Mouthwash" Antiseptic as well as musical works by artists such as Elton John, Lil Nas X, Miley Cyrus, Lil Wayne, XXXTentacion, Halsey, and numerous others — and has now issued an impressive set of results.

Leading player %MusicLicensing (OTC: SONG) announced in a press release its annual results for the fiscal year ending December 31, 2023, delivering robust performance and achieving significant milestones in revenue and profitability. Key financial highlights for the fiscal year 2023 were total revenue of $1,052,274,588 USD, showcasing its ability to generate substantial income in a competitive market environment; net profit of $46,033,387 USD, demonstrating its efficiency in managing costs and maximizing profitability; total equity of $49,580,139 USD, reflecting its solid financial position and stability; and EPS of approximately $0.057 USD per share, highlighting its ability to deliver value to shareholders through earnings growth.

Shares ripped during the day, up 80 percent on high volume.

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