Vivendi's profit falls; to spin off declining SFR

|About: Vivendi SA ADR (VIVHY)|By:, SA News Editor

Vivendi's (VIVHY) FQ2 net profit dropped to €376M from €493M a year earlier, hurt by further declines at its French telecom unit SFR.

EPS 28 cents per share vs 38 cents per share.

Adjusted revenue +0.2% to €5.35B, in line.

Adjusted EBIT dropped 23% to €730M, in line with some analysts' expectations.

Vivendi confirmed its FY guidance for all units.

Vivendi hopes to split off SFR, its largest subsidiary, by next year. The unit has been hit by a price war in France.

Shares +2.85% in Paris. (PR)