Vivendi net income flat in Q2

'World of Warcraft,' Canal Plus among strong properties

PARIS -- French media and telecoms group Vivendi on Monday posted second-quarter net income of 757 million euros ($1.1 billion), virtually unchanged on the same period in 2007.

The group recorded second-quarter revenue of almost 6 billion euros ($8.76 billion), a 15% increase on the equivalent period the previous year.

The company said its outlook for 2008 was confirmed. "Vivendi expects to deliver profit growth similar to 2007, at constant perimeter," the company said in a statement. Vivendi showed an 8% growth in income in 2007.

The company noted the strong growth in EBITA at its business units Universal Music Group (up 24%) and French pay TV operation Canal Plus (up 17%). The Vivendi Games unit reported sustained growth for "World of Warcraft," with a subscriber base of more than 10.9 million at the end of the first half of 2008.

Jean Bernard Levy, chairman of Vivendi's management board, said the company would not now have to carry out a rights issue, as announced in December, to finance its recent acquisition of French telecom company Neuf Cegetel and the creation of games publisher Activision Blizzard.

Vivendi's shares closed down 0.51% at 26.31 euros ($38.41).