European media group Vivendi posted a rise in profit that beat expectations on Friday due to cost cutting and the performance of its music business, while it stayed mum on plans to use billions earned from selling telecoms units.Vivendi, which is nearing the end of a strategy overhaul began in spring 2012, more than doubled the profits attributable to the group to 839 million euros in the third quarter, including the proceeds from selling Maroc Telecom and a stake in headphone maker Beats.Pro-forma third-quarter sales fell 0.9 percent to 2.4 billion euros, while adjusted net profit more than doubled to 189 million euros.Analysts were expecting sales of 2.6 billion euros ($3.24 billion) and net profit of 151 million euros, according to Thomson Reuters I/B/E/S.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.55% or $0.21/share to $38.29. In the past year, the shares have traded as low as $33.21 and as high as $38.70. On average, 762826 shares of TRI exchange hands on a given day and today's volume is recorded at 224062.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.3% or $-0.13/share to $43.21. In the past year, the shares have traded as low as $36.86 and as high as $43.48. On average, 705633 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 129244.
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