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Vivendi Universal Revenues Drop 4% on Poor Music Sales

Authored by Mark Hefflinger on May 5, 2004 - 3:15am.
Paris -- French media and entertainment conglomerate Vivendi Universal this week reported a 4% drop in first-quarter sales, a performance that slightly exceeded most analysts' expectations. The company attributed the results to the stronger-than-expected performance of its telecommunications subsidiary, which offset a poor showing by its entertainment unit. Revenues dropped from $7.55 billion in the first quarter of last year to $7.24 billion for the three months ended March 31. SFR, the company's telecommunications business and currently the No. 2 mobile operator in France, reported a 14% increase in revenues to more than $2.4 billion, largely beating analysts' expectations. The company said the relative weakness of the U.S. dollar and changes in its corporate structure impacted overall sales as well.
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tags: Music | Vivendi Universal | Revenues |



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