Vivendi profits slump on NBC Universal charges

15th November 2010, Comments 0 comments

French media and telecom group Vivendi said Monday its third quarter net profit plunged 38 percent from a year earlier as it took extra costs on its exit from NBC Universal.

The company said net profit for the three months to September came to 372 million euros (510 million dollars), after taking a charge of 232 million euros on the sale of a 7.66 stake in NBC Universal.

Sales were up 8.5 percent at 6.9 billion euros, beating analyst forecasts while operating profit gained 5.5 percent from last year to 1.3 billion euros.

© 2010 AFP

0 Comments To This Article