(RTTNews) - Thursday, communication and entertainment company Vivendi (VIVEF.PK: News ) reported a plunge in third quarter profit compared to last year. However, on an adjusted basis, the company posted a rise in profit from the prior year period.

Vivendi's third quarter profit attributable to equity holders of the parent plunged to EUR 600 million or EUR 0.49 per share from EUR 2.8 billion or EUR 2.35 per share in the previous year quarter. Earnings from continuing operations went down to EUR 962 million from EUR 3.05 billion in the comparable quarter last year.

In the recent quarter, the company reported adjusted net income of EUR 645 million, up from EUR 625 million in the year ago period. On a per share basis, adjusted profit decreased to EUR 0.52 from EUR 0.53 in the same quarter last year.

Total revenue for the quarter declined to EUR 6.35 billion from EUR 6.51 billion in the prior year quarter.

Quarterly revenue from Activision Blizzard increased to EUR 493 million from EUR 475 million, while Universal Music Group revenue declined to EUR 969 million from EUR 1.09 billion in the prior year quarter.
Revenue from SFR was EUR 3.09 billion, down from EUR 3.13 billion last year, Maroc telecom group revenue rose to EUR 694 million from EUR 676 million and Canal group revenue marginally to EUR 1.11 billion from EUR 1.13 billion last year.

For the nine-month period, income attributable to equity holders of the parent was EUR 1.79 billion or EUR 1.49 per share compared to EUR 3.98 billion or EUR 3.40 per share in the prior year period. Year-to-date revenue rose to EUR 19.5 billion from EUR 17.7 billion last year.

Vivendi last traded at $29.15, down $0.38 or 1.28% on the OTC.

To receive FREE breaking news email alerts for Vivendi and others in your portfolio

by RTT Staff Writer

For comments and feedback: contact editorial@rttnews.com