Investing.com -- Shares in Universal Music Group (AS: UMG ) saw an increase of 5.4%, following the music label’s successful first quarter sales results.

UMG, the largest music label globally, surpassed sales expectations, leading to the rise in share prices.

UMG’s streaming and subscription revenues, which make up over half of the company’s total sales, rose by 9.5% to reach 1.60 billion euros ($1.82 billion).

This growth is particularly significant as it exceeds the market’s expectation of 7% and aligns with the company’s five-year guide, even before pricing benefits are set to kick in during the fiscal year 2026.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.