| KeyWord: vu |
Date: 05-18-2006 |
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Summary:First quarter earnings for ＄30 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 (＄912 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 (＄51.2 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 (＄640 million) per year tax consolidation shelter, according to Reuters. From next-gen | | |
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