UMG Q1 revenue up 9.1% as Vivendi profits exceed expectations
Tuesday, May 15th 2012 at 11:08AMVivendi's net income - excluding one-time gains or losses and some costs - was 823 million Euros ($1.1 billion), which easily outstretched the 765 million Euro average estimated by analysts.
Sales slipped 0.9% to 7.1 billion Euros but still exceeded predictions as well. Universal Music Group is reported to have been one of the main contributors to sales along with the GVT Brazilian division.
Universal Music Group's revenues were 961 million Euros, an increase of 9.1% compared to Q1 2011.
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