Vivendi confirms earnings outlook on solid first half

News General Global 31 AUG 2011
Vivendi confirms earnings outlook on solid first half
French telecommunications and entertainment group Vivendi reported revenues up 1.9 percent to EUR 14.25 billion in the first half and an EBITA up 3.7 percent to EUR 3.36 billion. The increase in earnings was attributed in particular to game subsidiary Activision Blizzard and Brazilian operator GVT. The first saw a 34.4 percent increase in EBITA to EUR 833 million, due to new accounting principles requiring revenues and related cost of sales associated with games with an online component to be deferred over the estimated customer service period. At GVT, EBITA increased 90.8 percent to EUR 187 million on a very strong half. Vivendi increased its group adjusted net income by 20.2 percent to EUR 1.83 billion in the first half, or EUR 1.48 per share, compared to EUR 1.53 billion (EUR 1.24 per share) in the year-earlier period. The company confirmed its full year outlook of adjusted net income to be above EUR 3 million, versus EUR 2.7 billion in 2010, and for an increase in the dividend.

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Voice services, Unified communications, Messaging, Games, Financial figures, Wireline, Wireless, Internet Access, Broadcast, Digital Music

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