Scotiabank lifts gold price forecast and upgrades Newmont, Barrick
Investing.com -- Vivendi SE’s shares rose Wednesday after the company reported a steady third-quarter performance, with no major legal developments and a reaffirmation of its cost-cutting plans, despite a slight revenue decline at its Gameloft subsidiary.
The French media and entertainment group posted third-quarter revenue of €68 million, down from €69 million in the same period last year.
For the first nine months, revenue reached €213 million, up from €203 million a year earlier, a 5.2% increase at constant currency and perimeter. Vivendi said the increase reflects solid performance from its gaming unit, Gameloft.
Gameloft recorded €67 million in revenue for the third quarter, a 1% organic decline compared with the same period last year, primarily due to weaker mobile segment performance.
The company’s top five titles, Disney Dreamlight Valley, Asphalt Legends, Disney Magic Kingdoms, March of Empires, and Disney Speedstorm, accounted for 58% of total sales.
Vivendi confirmed it would continue Gameloft’s strategic repositioning and reaffirmed its target to reduce corporate expenses. The company reported no material legal developments in the quarter.
A hearing before France’s Supreme Court regarding appeals by Vivendi and Bolloré is scheduled for Nov. 25. The case will determine whether a public buyout offer for Vivendi shares is required.