Nielsen Q2 net income jumps to $103 mn

MUMBAI: Global research company Nielsen‘s net income for the second quarter increased to $103 million compared to $69 million in the second quarter of 2011, driven by an overall reduction in costs.

Revenues for the second quarter decreased 1 per cent to $1.38 billion compared to the second quarter of 2011. Adjusted EBITDA for the second quarter increased 1 per cent to $389 million.

"Nielsen delivered solid second quarter results that reflect the reliable growth and stability of our businesses. We continue to benefit from the value we create for our clients and their confidence in our unique ability to serve the media and consumer goods industries across the globe," said Nielsen CEO David Calhoun.

Revenues for the first half of 2012 increased 1 per cent to $2.72 billion compared to the first half of 2011 while adjusted EBITDA for the first half increased 2 per cent to $721 million.

Net income for the first half of 2012 was $128 million compared to a net loss of $112 million for the first half of 2011. The 2011 first half results included charges of $206 million, net of tax, associated with the IPO.

As of June 30, 2012, cash balances were $283 million and gross debt was $6.56 billion, excluding the $288 million mandatory convertible subordinated bonds due 2013.

Net debt (gross debt less cash and cash equivalents) at the end of the quarter was $6.27 billion. Capital expenditures were $152 million for the first half of 2012 as compared to $142 million for the first half of 2011.

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