Vivendi Universal’s Net Income Triples

Vivendi Universal, one of Europe’s biggest media companies, said its first-quarter earnings tripled, helped by a turnaround in its music and video game business.

Net income jumped to 502 million euros ($634 million) from 166 million euros a year earlier, topping most analysts’ forecasts.

The results underscore a dramatic turnaround at Paris-based Vivendi, which came close to collapse three years ago. Since then, Chairman Jean-Rene Fourtou has sold off businesses to lower debt and lift earnings. Fourtou handed day-to-day management control to his former No. 2, Jean-Bernard Levy, three weeks ago.