Vivendi Ends 2018 on Strong Note; Music Streaming Continues to Drive Growth
Vivendi posted a strong fourth quarter as revenue and operating profit came in slightly above consensus. Universal Music continues to benefit from consumers’ preference for streaming music, driving subscription and streaming revenue up 42% organically year over year. We maintain our no-moat rating but are raising our fair value estimate to EUR 20 per share from EUR 19 to account for stronger streaming revenue growth. With the shares trading in the 2-star range on our updated fair value estimate,...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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