Vivendi Posts Quarterly Sales Gain From Strong Music Market
- Universal Music Group continues to drive media firm’s results
- Vivendi is trying to sell a stake in the record company
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Vivendi SA beat estimates for first-quarter sales as the French media conglomerate controlled by billionaire Vincent Bollore continued to benefit from a buoyant music market.
Revenue rose 5.7 percent on a constant currency basis to 3.46 billion euros ($3.91 billion) from 3.12 billion euros a year ago, the company said in a statement on Monday. Analysts had expected 3.38 billion euros.