Vivendi reports better-than- expected revenue (France)

www.WirelessFederation.com/news: Due to a strong performance from both gaming and telecoms divisions, a better-than- expected revenue and operating profit has been posted by French media and telecoms conglomerate, Vivendi.

Vivendi’s revenues were up 6.9% year-on-year to EUR27.13 billion (USD36.99 billion) for 2009 while the EBITDA was up 8.8% year-on-year at EUR5.39 billion. However, a one-off provision related to possible damages in a US-led class action lawsuit affected the net income which swung to a loss of EUR839 million in 4Q09.

According to group’s chief executive Jean-Bernard Levy, this year the firm would hopefully post ‘slight growth’ on an adjusted operating profit basis compared with ‘strong growth’ last year. The gaming division of the company reported sales rise of 50% y-o-y at EUR3 billion.