Vivendi Reports Weaker-Than-Expected First-Quarter Revenue; Exploring Options for Universal Music
Vivendi posted first-quarter revenue that came in slightly below consensus expectations as the company dealt with currency headwinds that hit Universal Music Group the hardest. Note that beginning in 2018, the firm switched to reporting only revenue results for the first and third quarters. While UMG remains the largest contributor to operating income (generating over 70% in 2017), the supervisory board at Vivendi authorized the management board to explore the possibility of either selling the u...
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