Nielsen reported lower first quarter earnings as its strategic revenue continued.
Net income fell 40% to $43 million, or 12 cents a share, in the quarter, from $72 million, or 20 cents a share, a year ago.
Revenue dropped 2.9% to $1.6 billion. The company said that revenue was up 0.4% if you take out the effect of currency changes.
The company didn’t talk about its ongoing strategic review, which could result in the sale of parts of the company or the whole company, other than to say that it aims to complete the review in a timely manner.
“The strategic review is ongoing and the Board is focused on completing the process in as timely a manner as possible,” said CEO David Kenny. “We remain focused on executing on our growth strategy, and we’re taking the right steps to position the company for both near and long-term success in order to maximize value for all of our shareholders.”
The company said it was maintaining its financial guidance for the year that revenue growth would be flat to up 1.5% on a constant currency basis and net income of $230 million to $285 million.
First quarter revenue for Nielsen’s Global Media segment was up 0.2% to $826 million, Audience Measurement revenue was up 1.5% as demand for its Total Audience Measurement system was offset by pressure in local TV measurement. Plan/Optimize revenue was down 3.1%.
Revenue for the Global Connect segment were down 6.2% to $737 million.