Music GroupsVivendi Announces First Quarter Results. UMG Has Solid Numbers.
Vivendi, Universal Music Group's parent company, announced first quarter numbers yesterday and rejected a shareholder's proposal to break up the company.
Universal Music Group improved its operating income by 136%, improving to $115 million from $48 last year, the best earnings growth of the company's business units. (This year's number includes a $64 million sum from a successful appeal against TVT Records.) Revenues rose 8.4% -- 2.8% at constant currency.
Read PDF of earnings press release here.
Posted by Glenn at 11:18 AM
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Universal Music Group
