Vivendi 4th-Quarter Revenues Rise Slightly
January 31, 2007 at 5:48 AM (PT)
VIVENDI SA reported a modest 1.2% rise in fourth-quarter revenue today as stronger results from video games helped make up for lower sales at its mobile unit SFR and music division UNIVERSAL MUSIC.
The French media and telecommunications company reported fourth-quarter revenues of 5.55 billion euros (US$7.19 billion), up from 5.48 billion euros the previous year. The figure fell short of the 5.65 billion (US$7.32 billion) average estimate by 10 analysts surveyed by DOW JONES Newswires.
For the full year, revenue came in at 20.07 billion euros (US$25.8 billion), up 2.9% from 19.48 billion euros in 2005, VIVENDI said.
UNIVERSAL MUSIC posted a 1.5% drop in revenues to 1.66 billion euros (US$2.15 billion).
Despite a boom in download sales over the Internet and mobile phones, the music market as a whole is shrinking as digital revenue growth fails to offset a decline in CD sales.