Vivendi Q2 Profit Rises

(RTTNews) - French media and music company Vivendi SA (VIVEF.PK) on Wednesday said its second-quarter net income to shareholders increased to 1.96 billion euros from 1.48 billion euros last year.

Excluding gains from discontinued operations and other one-time items, Vivendi reported adjusted earnings of 193 million euros compared with 144 million euros in the prior year.

The company's EBIT for the quarter rose to 910 million euros from 179 million euros a year ago.

Revenues for the quarter rose 2.1% to 2.6 billion euros from 2.39 billion euros a year ago. On a constant currency basis, revenues were up 1.9%.

At its pay-TV and movie producing business, Canal+ Group, revenue edged up 0.1 % from last year to 1.36 billion euros. Universal Music Group revenue rose 4.3 % to 1.21 billion euros.

For the first half of 2015, the company reported earnings of 1.99 billion euros or 1.46 euros per share compared with 1.91 billion euros or 1.42 euros per share last year.

Adjusted earnings for the first half were 329 million euros or 0.24 euros per share compare with 253 million euros or 0.19 euros per share a year ago.

First-half revenues climbed 8.3% to 5.1 billion euros from 4.71 billion euros a year ago. On a constant currency basis, revenues were up 2.6%.

EBIT was up 3.7% at 1.03 billion euros.