French telecoms and entertainment group Vivendi reported revenues down 1.6 percent to EUR 6.78 billion in the third quarter, compared to EUR 6.89 billion in the year-earlier period. EBITA increased 5.3 percent to EUR 1.5 billion from EUR 1.43 billion thanks to strong performances at video games subsidiary Activision Blizzard and Brazilian operator GVT. Universal Music also contributed to the acceleration of EBITA for the third quarter with a 5.3 percent increase, as did strict cost controls across the group. Adjusted net income came in at EUR 685 million in the third quarter, little changed versus EUR 688 million in the third quarter of 2010. Nevertheless, Vivendi reduced its profit forecast for the full year because of a rise in French corporate taxes. It now targets an adjusted net income of over EUR 2.85 billion, versus its earlier objective of EUR 3 billion. It confirmed an increase in dividend for 2011.
