Vivendi storms markets with all guns blazing
Nick Clark is the arts correspondent of The Independent. He joined the newspaper in June 2007, initially reporting on the stock markets. He has covered beats including the City, and technology, media and telecoms and made the switch to arts in December 2011. He has also contributed articles to the sports section.
Thursday 17 November 2011
French group Vivendi beat profit expectations in the third quarter, largely thanks to its computer game operation.
Vivendi owns about 60 per cent of Activision Blizzard, the developer behind Call of Duty: Modern Warfare 3, which sold a record $400m (£253m) worth of games on its opening day in the US and the UK. Call of Duty did not feature in the results as the launch came after the close, but Vivendi's adjusted net profit was €685m (£434m), beating consensus forecasts of €557m.
The group said games including Skylanders: Spyro's Adventures had helped to bolster its results as underlying earnings rose 38 per cent. Vivendi, which last week bought EMI's recorded music division in a £1.2bn deal, sold a 3 per cent stake in Activision for $427m.
After Call of Duty's launch the division raised its full-year outlook, predicting that earnings would hit €850m. Vivendi also pointed to a strong performance from its Brazilian operation GVT, which grew by almost half to more than €1bn during the first nine months of the year. On the downside, Vivendi said it would be hit by new tax rules in France to the tune of €350m in 2011.
Is your name now 'banned' in Saudi Arabia?
Oscar Pistorius trial: Photographs of Paralympian splattered in blood shown in court
Seth Rogen compiles list of all the celebrities he’s got high with
Missing Malaysia Airlines Flight MH370: Satellite ‘pings sent five hours after contact was lost' the only clue in hunt for £160m plane
Missing Malaysia Airlines Flight MH370: New radar evidence suggests missing plane may have been hijacked
Katie Hopkins continues campaign to become Britain's most hated talking head with poorly timed Bob Crow tweet
No EU referendum under Labour: Ed Miliband to reveal that vote on membership is ‘unlikely’ in next Parliament if party wins power
Grace Dent: Who cares if she spells it Barraco Barner? Gemma Worrall is more employable than some bookish arts graduate
Europeans have ‘got whiter’ due to natural selection in past 5,000 years, scientists say
Fracking is turning the US into a bigger oil producer than Saudi Arabia
The rise of Ukip: Study warns Labour that Eurosceptic party's electoral base now 'more working class than any of the main parties'
- 1 Is your name now 'banned' in Saudi Arabia?
- 2 Best films on Netflix: 32 movies that will put an end to your scrolling
- 3 Saving a crushed egg with tape and glue: Why you should care about the kakapo
- 4 Istanbul protesters take 'Ellen selfie' from the back of a police van
- 5 Lady Gaga has struggled with eating disorders in the past, so it's indefensible that she's glamourising bulimia in her SXSW set
iJobs Money & Business
£35000 - £43000 per annum + Bonus and Benefits: Harrington Starr: A global lea...
£50000 - £60000 per annum: Harrington Starr: Linux Systems Administrator - UNI...
£32000 - £36000 per annum + generous benefits: Pro-Recruitment Group: * TAX * ...
£37000 - £40000 per annum + £20000 benefits package: Pro-Recruitment Group: **...