Report
Neil Macker
EUR 101.80 For Business Accounts Only

Vivendi Reports in Line 3Q; Ubisoft Decision Pushed Out Again

Vivendi posted an in line quarter with revenue slightly ahead of consensus and EBIT in line with expectations. Canal+ continues to struggle in France, dragging down overall results, but management continues to expect a bounce back in the fourth quarter. The firm also announced that it does not plan to file a public tender offer for Ubisoft over the next six months. We maintain our no-moat rating and our fair value estimate of EUR 19. With Vivendi shares trading in the 3-star range, investors sho...
Underlying
Vivendi S.A. ADS

Provider
Morningstar
Morningstar

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.

Analysts
Neil Macker

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