Vivendi Universal's first-quarter financial report sees its games division running at an operating loss twice that of 12 months earlier.
Vivendi Universal has recently released a financial report for the first quarter of 2004, stating, in the company's own words, shows significant progress compared to a year ago. Vivendi Universal's operating income of 930 million euros (US$1.14 billion) for the quarter is up 32 percent compared to the same period last year, and its net income of 239 million euros (US$292.86 million) compares favorably to a loss of 56 million euros (US$68.62 million) 12 months earlier. As of May 27, 2004, Vivendi Universal still had a net debt of approximately 7 billion euros (US$8.58 billion), though, and its games division doesn't currently appear to be helping matters.