Nielsen Q3 Profit Down; Board Authorizes Addl $1 Bln Share Repurchase Program

(RTTNews) - Nielsen N.V. (NLSN), a provider of information and insights into what consumers watch and buy, reported that its net income attributable to stockholders for the third quarter ended September 30, 2014 fell to $91 million from $134 million in the prior year quarter. Net income attributable to stockholders was $0.24 down from $0.35 last year.

Adjusted Net Income for the third quarter increased 32.6% to $256 million, or 36.9% on a constant currency basis, compared to the third quarter of 2013. Adjusted Net Income per share on a diluted basis was $0.66 compared to $0.50 in the third quarter of 2013.

Revenues for the third quarter increased 13.3% to $1.572 billion, or 14.4% on a constant currency basis, compared to the third quarter of 2013. Revenues, excluding the impact of the Arbitron and Harris acquisitions, increased 2.5%, or 3.4% on a constant currency basis.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.65 per share and revenues of $1.59 billion. Analysts' estimates typically exclude special items.

The company said that its board authorized an additional $1 billion for its share repurchase program. Combined with the approximately $400 million remaining in its current program, the company now has a total capacity for $1.4 billion in share repurchases, which it expects to complete by mid-year 2016.