Nielsen Q1 Adj. Profit Tops View; Hikes Dividend - Quick Facts

(RTTNews) - Nielsen Holdings plc (NLSN) reported that net income for the first quarter of 2016 increased 60.3% to $101 million, or 62.9% on a constant currency basis, compared to the first quarter of 2015 due to strong revenue growth, ongoing productivity initiatives and the operating leverage of the business. Net income per share, on a diluted basis, was $0.27 for the first quarter of 2016 compared to $0.17 in the first quarter of 2015.

Net income for the first quarter of 2015 was negatively impacted by $26 million in net foreign currency exchange transaction losses, compared with similar losses of $1 million in the first quarter of 2016.

Adjusted Net Income for the first quarter of 2016 of $187 million was up 8.1%, or 9.4% on a constant currency basis, as compared to the first quarter of 2015. Adjusted Net Income per share on a diluted basis grew 10.9% to $0.51 for the first quarter of 2016 compared to $0.46 in the first quarter of 2015. Analysts polled by Thomson Reuters expected the company to report earnings of $0.50 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues were $1.487 billion for the first quarter of 2016, up 2.0%, or 5.2% on a constant currency basis, compared to the first quarter of 2015, due to the solid performance of both its Buy and Watch businesses. Wall Street expected revenues of $1.49 billion.

The Board of Directors approved an increase in the company's quarterly cash dividend of 11% to $0.31 per common share, commencing with the payment on June 16, 2016 to shareholders of record on June 2, 2016.

The company repurchased $83 million of shares of its common stock during the first quarter of 2016. The company has a total of $772 million remaining for repurchase under the existing share repurchase program, which it anticipates largely utilizing by the end of 2017.