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Arts & Entertainment

Vivendi net income falls 3.5 per cent in Q2 on fewer releases, fall in demand

September 1, 2010 |The Associated Press

PARIS - French media company Vivendi says net profit fell 3.5 per cent in the second quarter amid falling revenues and fewer releases in its music business that features artists like Eminem and Lady Gaga.

The company behind "World of Warcraft" games, Universal Music and mobile phone division SFR says net profit dropped to €1.06 billion (US$1.34 billion) from €1.1 billion.

Vivendi said Wednesday fewer international releases and lower demand drove down Universal's revenues by 5.4 per cent to €1.9 billion. Revenues in SFR's mobile segment fell 0.3 per cent to €4.43 billion.

Underlying profit, which excludes most nonrecurring and non-operating items and is the measure watched most closely by financial analysts, fell 3.4 per cent to €790 million.

Revenue rose 6.2 per cent to €7.06 billion.

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