Vivendi Universal Reports Lower Profit

Media and telecom company Vivendi Universal reported a drop in fourth-quarter and full-year earnings because of one-time gains a year earlier, but it saw solid performances by its video games and music divisions.

The French company said fourth-quarter profit fell to 1.25 billion euros ($1.48 billion) from 1.92 billion euros, and annual earnings dropped to 3.15 billion euros from 3.77 billion euros. Vivendi had 1.52 billion euros in gains from asset disposals a year earlier.

Revenue for the quarter rose to 5.48 billion euros from 5.12 billion euros. For the year, revenue was 19.48 billion euros, up from 17.88 billion euros.