Nielsen 3Q profit rises 3 pct., revenue up 1 pct.
NEW YORK (AP) — Nielsen Holdings N.V. said Monday that its third-quarter net income rose 3 percent as demand for the company's data tracking increased and it paid less in interest expense and cut some costs.
Nielsen, a provider of information and insight into what global consumers watch and buy, earned $105 million, or 29 cents per share, up from $102 million, or 28 cents per share, in the same quarter last year.
Excluding one-time items such as stock-based compensation, profit came to 53 cents per share for the recent quarter. Analysts expected profit of 50 cents per share, according to a FactSet poll.
Revenue rose nearly 1 percent to $1.42 billion from $1.41 billion, as changes in foreign exchange rates dented some sales. A stronger dollar means that revenue generated from overseas shrinks when it's translated back into U.S. dollars. Analysts expected $1.44 billion in revenue,
Nielsen said global demand for information services increased during the quarter as its clients boosted spending on retail measurement. In the company's "Buy" segment, which monitors shopping, revenue fell 1 percent — but rose 4 percent when stripping out currency changes. Revenue from the "Watch" division that tracks TV shows rose 4 percent — 5 percent when keeping foreign exchange values constant. Revenue at the company's "Expositions" business, which produces about 40 trade shows per year, rose 5 percent.
Helping boost profit were some lower expenses. Nielsen paid 7 percent less in interest on its $6.1 billion debt load and cut selling, general and administrative expenses by 3.5 percent, to $444 million.
Nielsen, which went public in January 2011, has headquarters in New York and the Netherlands.
Shares fell $2.33, or 7.8 percent, to $29.01 in afternoon trading amid a decline in the broader market.