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Vivendi net profit down 18.5% on bad quarter at SFR
2013-05-15 08:38:00| Telecompaper Headlines
(Telecompaper) Vivendi reported revenue down 1 percent to EUR 7.05 billion in the first quarter compared to the year-earlier period. EBITA decreased by 17.2 percent to EUR 1.34 billion, in line with its outlook, and mainly due to a EUR 233 million decrease at its French telecom subsidiary, SFR. Vivendi's adjusted net income declined by 18.5 percent to EUR 672 million in the quarter. The company said that its subsidiaries are taking the necessary measures to adapt to the very challenging economic environment. Vivendi's first-quarter results allow it to confirm annual guidance across all of its businesses. Earnings attributable to Vivendi shareholders amounted to EUR 534 million or EUR 0.40 per share, compared to EUR 699 million or EUR 0.54 per share for the first quarter of 2012, a decrease of 23.6 percent.
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Category:Telecommunications