Vivendi Raises Outlook as Net Income Soars

Vivendi Universal raised its 2004 earnings forecast after performances by its music and telecommunications units powered a more than fivefold increase in third-quarter profit.

Net income was 776 million euros ($956.9 million), the French media and telecommunications group said, up from 131 million euros a year ago.

Revenue fell to 4.70 billion euros ($5.8 billion) from 5.90 billion euros in part because of the sale of its U.S. entertainment businesses to General Electric Co. Excluding sell-offs and acquisitions, revenue rose 6%.