UMG Disappoints Markets Again
After reporting quarterly results that fell short of expectations—sending its stock down by about 7%—Universal Music Group announced the sale of half of its stake in Spotify and the doubling of its share buyback program to 1 billion euros. Universal Music Group (UMG) reported first-quarter 2026 results that fell short of analysts’ expectations, causing its stock price to drop by about 7% on Wednesday…. The Amsterdam-listed major also announced that it would sell half of its stake in Spotify Technology SA and increase its share buyback program to €1 billion. Specifically, UMG stated that it would launch a second €500 million buyback tranche once the €500 million program announced in March is completed, bringing the total to €1 billion. This announcement comes amid pressure from billionaire investor Bill Ackman. He…