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Vivendi posts higher third quarter earnings and keeps financial outlook

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Vivendi posts higher third quarter earnings and keeps financial outlook

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PARIS (Reuters) – France’s acquisitive media conglomerate Vivendi <VIV.PA> reported higher third-quarter earnings and kept its 2017 outlook for an increase in sales and profit over the year. Vivendi’s third-quarter EBITA (earnings before interest, tax and amortisation) rose 5.7 percent from a year ago to 293 million euros (£261.4 million), while its revenue increased by 19.3 percent to 3.184 billion euros. Vivendi, chaired by French billionaire Vincent Bollore <BOLL.PA>, has built up stakes in companies such as Telecom Italia <TLIT.MI>, MediaSet <MS.MI>, video games group Ubisoft <UBIP.PA> and it bought advertiser Havas <HAVA.PA> this year. Vivendi kept its 2017 outlook for revenue to increase more than 5 percent and for a rise of around 25 percent in its EBITA, prior to its integration of the Havas business.

(Reporting by Sudip Kar-Gupta, editing by David Evans)
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