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NEWS1 August 2019

Nielsen Q2 revenue dips as strategic review continues

Financials News North America

US – Nielsen has reported revenues of $1.63bn for the second quarter of 2019, a 1.2% decrease on the same period last year but 1.2% up on a constant currency basis.

The company’s net income increased 70.8% to $123m, or 83.6% in constant currency, up from $72m in the second quarter of 2018.

Revenue from audience measurement rose by 3.5% in the second quarter ( 4.2% in constant currency), growth the company attributed to continued take-up of its Total Audience Measurement system. Gains were partially offset by pressure in the local television measurement market, the company said.

Global Media revenues were up 1.1% ( 2.0% in constant currency) to $856m, while Global Connect revenues decreased 3.5% to $772m (increase of 0.4% in constant currency).

David Kenny, chief executive officer, said: "Our second quarter results were once again slightly ahead of our expectations. We have aligned our organisation around two industry-leading businesses serving the media and fast moving consumer goods industries that are capable of greater profitability, higher cash flow conversion, and delivering strong shareholder value." 

Nielsen first began reviewing strategic options for its Buy segment, which provides data on purchase behaviour, in July last year, and later expanded the review to explore a potential sale of the business.

The company’s board is aiming to complete its strategic review process by the time its third quarter financial results are released, Kenny said in its Q2 statement. He added: "We will discuss the outcome and go-forward plan at the conclusion of the process. In addition, we remain focused on executing on our growth strategies and positioning the company to maximise value for all of our shareholders."

@RESEARCH LIVE

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