By Mauro Orru

Vivendi SE said Thursday that revenue increased in the third quarter led by growth at its pay-TV business Canal+ Group, marking its first quarter since the spin-off of Universal Music Group NV, for years Vivendi's most lucrative asset.

The media conglomerate steered by the family of French billionaire Vincent Bollore said revenue climbed to 2.48 billion euros ($2.89 billion) from EUR2.17 billion in the third quarter last year.

The result represents a 10.3% increase on an organic basis.

Jefferies analysts had this month forecast revenue of EUR2.35 billion compared with consensus of EUR2.26 billion.

Revenue at Canal+ Group rose to EUR1.47 billion from EUR1.38 billion.

Jefferies analysts had expected Canal+ Group to lead revenue growth as a whole, forecasting a contribution of EUR1.44 billion.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

October 21, 2021 12:05 ET (16:05 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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