| KeyWord: vu |
Date: 2006-05-18 |
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Summary:First quarter earnings for ¡ç30 million,world of warcraft continues to be the top contributor.
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"This dramatic improvement was driven by a growth in revenues, with an increased proportion relating to the higher margin of World of Warcraft business," read a report from Vivendi. The publisher also stated that earnings results included increased development costs associated with World of Warcraft developer Blizzard.
Vivendi¡®s other divisions include Universal Music Group, Canal Plus Group, SFR and Maroc Telecom.
Overall, Vivendi¡®s net income for the quarter increased 41 percent to 707 million euros (¡ç912 million), beating analysts¡® expectations. The company raised its own expectations for the year ahead, predicting an 8 to 10 percent rise in earnings from operations. In addition, Reuters reports that Vivendi has rejected a break-up offer by one of its shareholders, Sebastian Holdings, which added up to 33.5 euros per share, or 40 billion euros (¡ç51.2 billion). Vivendi however, denied it received such an offer. A break-up of Vivendi would send its stock value upward, but it would lose its 500 million euros (¡ç640 million) per year tax consolidation shelter, according to Reuters. From next-gen | | |
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