By Mauro Orru 
 

Vivendi SA said Tuesday that revenue increased in the third quarter thanks to growth at its subsidiaries Universal Music Group, Canal+ Group and Editis.

The French media giant posted revenue for the quarter of 4.02 billion euros ($4.72 billion) compared with EUR3.97 billion in the third quarter of 2019. The result represents an increase of 0.7% on an organic basis.

Citi analysts expected Vivendi to post revenue of EUR3.88 billion for the quarter, marking a 2.4% fall in organic terms, while Visible Alpha consensus projected revenue of EUR3.83 billion, with an organic decline of 2.8%.

Revenue at Universal Music Group, Vivendi's main subsidiary, rose to EUR1.86 billion from EUR1.80 billion.

Citi expected Universal Music Group to report revenue of EUR1.75 billion, while consensus estimated EUR1.74 billion.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

October 20, 2020 12:29 ET (16:29 GMT)

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