RUMOR MILL
Monday, March 12, 2001
INCOME GROWS 60% FOR
VIVENDI UNIVERSAL
General Sleepiness Of Online Audience Also Increases Nearly 58%
Vivendi Universal, parent to Universal Music Group, posted a 60% gain in net income for 2000 to $2.14 billion (2.3 billion euros).
The company reported that pro forma EBITDA was $6.73 billion (7.21 billion euros) last year, up from $4.54 billion (4.86 billion euros) in 1999.
VU's music unit UMG had pro forma EBITDA of $1.08 billion (1.16 billion euros) in 2000.
Chairman/CEO Jean-Marie Messier said Friday (3/9) in Paris that Vivendi Universal was on track to meet earnings growth targets after its merger with Seagram and Canal Plus. Messier was joined by company Vice Chairman Edgar Bronfman Jr. and Canal Plus Chief Pierre Lescure at the news conference.
Revenue was up marginally to $38.8 billion (41.8 billion euros).
What do all these big numbers mean? We figured we'd just allow our readers to interpret them anyway they'd like.
