Revenues for Q2 decreased 1% to $1,385 million, while increasing 4% on a constant currency basis compared to Q2 2011. Revenue performance was driven by a 3% decrease within the company’s Buy segment (provides retailers and manufacturers with retail sales measurement and market share info). It was a 3% increase on a constant currency basis. There was a 2% increase within the Watch segment (measures audiences and provides metrics across all screens where people consume content — television, online, mobile and tablets) as they continue to see increases in customer spending on their information services businesses. That was a 4% on a constant currency basis. Revenues in Nielsen’s Expositions segment were flat during the period.
Adjusted EBITDA for the quarter increased 1% to $389 million, or 5% on a constant currency basis compared to the second quarter of 2011, as they continue to balance productivity efforts with investments in strategic growth initiatives.
Net income for Q2 increased to $103 million compared to $69 million in Q2 2011, driven by an overall reduction in costs. Net income per share, on a diluted basis, was $0.28 compared to $0.19 in Q2 2011.
Adjusted Net Income for Q2 increased to $157 million compared to $155 million in Q2 2011. Adjusted Net Income per share was $0.42 compared to $0.41 in the Q2 2011.
Revenues for the first half of 2012 increased 1% to $2,725 million, or 4% on a constant currency basis compared to the first half of 2011. Revenues within the Buy segment were flat (4% increase on a constant currency basis), revenues within the Watch segment increased 2% (3% on a constant currency basis) and revenues within the Expositions segment increased 5% (5% on a constant currency basis).
Adjusted EBITDA for the first half of 2012 increased 2% to $721 million, or 5% on a constant currency basis compared to the first half of 2011.
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. Net income per share, on a diluted basis, was $0.35 compared to a net loss per share of $0.33 in the first half of 2011.
Adjusted Net Income for the first half of 2012 increased to $270 million compared to $219 million in the first half of 2011. Adjusted Net Income per share was $0.72 compared to $0.61 in the first half of 2011.
“Growth and resilience were apparent in what is clearly a more difficult macro-environment,” said David Calhoun, Nielsen CEO. “For us, we see those implications in both the developing as well as the developed markets.”
He said the company is re-affirming 2012 guidance and with respect to the operating environment, “There is strong growth in North America—7% in the Buy side (ratings, etc.). There is a difficult operating environment in Western Europe—not news to anybody. It’s 15% of our overall revenue. Despite that tough environment, the resilience of our information business is always apparent. It continues to grow.”
Listen to his quarterly call, here:
[audio:Nielsen-Q212-072512.mp3|titles=David Calhoun, CEO, Nielsen]
