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Business News Labels & Publishers
Universal profits down but better
By CMU Editorial | Published on Thursday 1 September 2011
Universal Music had a better second quarter in its current financial year, though its cut of the LimeWire settlement did help a bit. See, and you claimed there was nothing good to be said about illegal file-sharing. Revenues were still down 2.9% (or basically flat if you take currency fluctuations into account) while profits were down 5.5%, but performance was better both quarter on quarter and year on year.
Parent company Vivendi saw revenues for the first half of the current financial year rise 1.9% (compared to the same period in 2010) to 14.24 billion euros, with profits up 3.7% to 3.36 billion euros. The conglom’s video games business, Activision Blizzard, was a stand-out contributor to the group’s improved performance overall.
