PARIS (dpa-AFX) - French media and telecom group Vivendi SA (VIVEF.PK, VIV.L) Monday reported a decline in profit for the first quarter, as last year the company had recorded an hefty gain related to a legal settlement.
Earnings attributable to the company's shareowners plunged to 697 million euros or 0.54 euro per share from 1,734 million euros or 1.35 euro per share last year.
Profit declined due mainly to a 1,255 million euros income recorded last year related to the final settlement of a litigation over the share ownership of PTC in Poland.
Adjusted net income dropped to 823 million euros or 0.64 euro per share from 950 million euros or 0.74 per share last year.
Earnings before interest and tax, or EBIT, decreased to 1,493 million euros from 2,422 million euros last year.
Vivendi's revenues for the quarter inched down to 7,119 million euros from 7,184 million euros in the first quarter last year.
In SFR, France's second largest mobile phone company, revenues declined 4.2 percent to 2,927 million euros, hurt mainly by the several price cuts imposed by the regulators. SFR's mobile customer base declined by 274,000 subscribers for the quarter.
Activision Blizzard's revenues for the first quarter decreased 15.7 percent to 894 million euros. At Universal Music Group, revenues increased 9.1 percent to 961 million euros, driven by strong recorded music sales particularly in the US.
Copyright RTT News/dpa-AFX