Vivendi Blames “Transition Year” For Poor Results

Continuing a trend of poor financial results for games companies, in which only Nintendo has so far excelled, officials from Vivendi Universal have reported the company’s second quarter and first half financial results. In these the company’s game division achieved revenues of €71 million ($85.4m) , down 47% from last year’s figure of €134 ($161.2m). For the full first half of the year revenues were down 38% to €148 million ($178m). The lower results were attributed to a particularly strong line-up in the second quarter of last year and higher-than-anticipated returns of products in Europe. The company’s game division is hoping to reverse its fortunes due to a strong line-up in the latter half of the year, including Half-Life 2, and the installation of a new management team, which has been in place since 12th July. Source: GameSpot