Vivendi Starts 2019 With Stronger-Than-Expected Revenue; Universal Music Remains the Key Driver
Vivendi posted first-quarter revenue that came in slightly ahead of consensus expectations as Universal Music Group benefited from continued growth in streaming usage. Despite the beat, Canal+ continues to struggle in France. Recall that beginning in 2018, the firm switched to reporting only revenue results for the first and third quarters. We are maintaining our no-moat rating and EUR 20 fair value estimate. With shares trading in 2-star territory, investors should wait for a pullback before in...
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.
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