PARIS: French media and telecoms company Vivendi Universal reported yesterday its first quarterly net profit under chief executive officer Jean-Rene Fourtou, driven by its telecommunications, pay-TV and entertainment divisions.
Vivendi, which has been divesting assets to cut debt and is in the midst of selling its US entertainment business, posted a net profit of 131 million euros (US$157.5mil) for the third quarter, versus a year-ago loss of 1.23 billion euros. Operating profit rose 43% on a pro forma basis to 896 million euros, well ahead of analysts’ expectations of 743 million euros.
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