French media giant Vivendi Universal has posted a whopping 35 per cent drop in its third quarter net profit. The profit posting was a mixed bag, with operating profit increasing on the back of a strong quarter for Universal Music.
Overall, profit for the quarter dropped to 647 million, compared with 1 billion in the same period last year. Last year, however, profit was boosted in the quarter by a 388 million tax gain.
The outlook for the full fiscal year remains unchanged. Source