Vivendi Third-Quarter Results Exceed Anticipation

NY - Vivendi on Wednesday reported better-than-expected third-quarter financials when excluding caused by tax reforms driven by strength at gaming arm Activision Blizzard.our editor recommendsVivendi Second-Quarter Earnings Rise 12% on Gaming StrengthJudge Narrows Vivendi's Investor Suit Exposure The final results also incorporated the second consecutive quarter ofslight organic revenue growth at Universal Group - .7 percent supposing constant foreign foreign currencies following .six percent inside the second quarter. UBS analyst Polo Tang mentioned in the first reaction this might be "suggesting industry may be reaching an inflection point carrying out a decade of decline" inside the music business. Vivendi, introduced by Boss Jean-Bernard Levy, reported another-quarter profit excluding one-time items of 685 million pounds ($923 million), nearly unchanged around-ago period. The figure exceeded estimations. Internet profit of 241 million pounds declined 35 percent. Earnings before interest, taxes and amortization, an important profit metric of a single.5 billion pounds, up 5.three percent in addition to exceeding analyst anticipation. Activision results, which have been reported the other day, together with a 1-off benefit at telecom firm SFR drove the upside surprise. Quarterly revenue declined 1.six percent to 6.78 billion pounds. However, Vivendi decreased its full-year primary point here guidance due tothe impact of formerly introduced tax reforms, therefore it thought to become 350 million pounds drag. Guidance for modified profit moved from three billion pounds-plus to "above" 2.85 billion pounds. UMG earnings before interest, taxes and amortization released a 36.three percent gain to 112 million pounds. Canal Plus released an every three several weeks revenue improvement, but a decline towards the conclusion. Email: Georg.Szalai@thr.com Twitter: @georgszalai Related Subjects Worldwide Vivendi Universal Group