shares of universal music group surged in early european trading thursday after the record label behind the weeknd billie eilish and taylor swift posted revenue growth ahead of analysts expectations for the second quarter marked by the return of growth in streaming the worlds largest music company said wednesday that overall revenue climbed to 270 billion euros 299 billion from eur254 billion in last years second quarter revenue from subscriptions grew 13 at constant currency to eur107 billion while streaming revenue rose 53 to eur358 million the development in streaming revenue marks a departure from the 22 contraction of the first quarter but it shows that strong growth seen at the height of the pandemic is confined to the past streaming services boomed as listeners turned to digital when coronavirus restrictions brought live concerts to a standstill though the pace of growth declined in recent months results were a decent amount better than both citi and consensus expectations citi analysts wrote in a research note overall revenue exceeded visible alpha consensus of eur256 billion and streaming growth of 53 beat an expected 12 contraction physical revenue which includes cd and vinyl sales jumped 113 to eur326 million king  prince morgan wallen seventeen taylor swift and stray kids were among the top sellers for the quarter adjusted earnings before interest taxes depreciation and amortizationa key profitability metric for universalincreased to eur590 million from eur507 million generating a 219 margin