Revenue at the concert promotion giant hit $5.6 billion, generating earnings per share of $1.02.
Universal reported subscription revenues in its recorded music department rose 10.6% in the second quarter.
The music giant hit $2.94 billion in the second quarter, thanks in part to a 10.6% year-over-year increase in subscription revenue.
The publicly traded fund's gross revenue declined during the year ending in March based on one-time costs and a tough year-ago comparison.
CEO Golnar Khosrowshahi says Reservoir's strategy is "to become the largest holder of Arabic music copyrights."
The third-largest label marked the second straight quarter of lackluster results for its recorded music division, with revenue roughly flat over the year-ago period.
Slow quarter for new releases puts a drag on streaming revenue, but recent Ed Sheeran and Jack Harlow albums could boost WMG's second half.
The stock climbed 15% on Friday as the company beat consensus with over $3 billion in revenue and forecast a strong year ahead.
Overall, the tech giant beat analyst expectations for the quarter, delivering revenue of $94.8 billion.
Revenue for the concert promotion giant was up 73% over last year, generating $3.1 billion.
