Bullish Vivendi beats forecasts

first_img EUROPE’S largest entertainment and telecommunications group, Vivendi, posted forecast-beating third-quarter results yesterday, fuelled by strong sales at its video game and Brazilian telecom units.But weaker results at its French telecom operator SFR, which is a key driver of Vivendi’s revenue and profit, showed how competition is intensifying in France, forcing SFR to spend more to recruit and retain clients and putting pressure on margins.The company also confirmed its 2010 objectives of an increase in earnings before interest, taxes and amortiSation (EBITA) and higher adjusted net income than in 2009, when it reached €2.59bn (£2.2bn).Vivendi, which competes with France Telecom in telecommunications and Electronic Arts in video games, said quarterly EBITA was €1.43bn, ahead of the €1.40bn average in a Reuters poll of 11 analysts.Third-quarter revenue was €6.89bn, compared with the average estimate of €6.70bn in the poll.Vivendi’s Brazilian telecom unit, GVT, which it acquired a year ago, raised its forecast for 2010, saying revenue would rise 40 per cent and adjusted earnings before interest, taxes, depreciation and amortisation, or EBITDA, would rise 50 per cent. GVT is investing heavily in the coming years to expand its network in economically booming San Paolo and Rio de Janeiro.GVT had previously expected revenue to be up 34 per cent and EBITDA 44 per cent for the year. French telecom operator SFR, 56 per cent owned by Vivendi and the rest by Vodafone Group, posted higher revenue; but its operating profit came in lower than analysts had expected. Monday 15 November 2010 7:51 pm Tags: NULL whatsapp More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterRaid Shadow LegendsDon’t play this game if you are under 40 years oldRaid Shadow Legends Bullish Vivendi beats forecasts center_img KCS-content whatsapp Show Comments ▼ Sharelast_img

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