- Nielsen (NYSE:NLSN) shares are off 2% after some near misses on revenue and earnings as it faced currency headwinds.
- Adjusted EBITDA of $380M (up 1.1%) missed an expected $388M. Revenues that declined 2% overall were up 4.4% in constant currency.
- Segment revenues: In its Buy segment, revenues slipped 4.7% (down 5.1% in constant currency) to $798M. In the Watch segment, revenues were up 1.2% (up 3.6% in constant currency) to $660M. It expects ongoing declines in its legacy online rankings product as it launches Digital Content Ratings this fall.
- Cash stood at $343M and net debt at $7B at quarter's end; capex was $102M, up from the prior year's $77M. Against net cash from operations of $75M, that capex led free cash flow to drop to -$1M.
- The company also noted it's hiked its dividend 12%, to $0.28/share (forward yield of 2.44%).
- Press release