Nielsen Holdings has announced its third quarter 2018 results. Revenues were $1.6 billion for the quarter, down 2.5 percent from Q3 a year ago. Net income per share on a diluted basis was $0.27 per share, compared to $0.41 per share in Q3 2017. Cash flow from operations decreased to $387 million for the quarter, from $538 million a year ago. Free cash flow for the third quarter decreased to $266 million, compared to $425 million in the third quarter of 2017.
“The third quarter revenue and earnings are consistent with our updated 2018 guidance despite a number of near-term challenges in our markets. We have a number of key initiatives and actions that we are pursuing to improve our future outlook,” said Jim Attwood, Executive Chairman of the Board. “Together with the Board of Directors, we are aligned on a set of operational priorities to drive the business forward. In addition, the Board of Directors, with the assistance of our advisors and management team, is focused on the expanded strategic review that we announced in September, which includes a broad review of strategic alternatives for Nielsen and its businesses.”
Revenues within the Watch segment for the third quarter of 2018 increased 0.8 percent to $845 million compared to the third quarter of 2017. Revenues within the Buy segment for the third quarter of 2018 decreased six percent to $755 million compared to Q3 of 2017.
Nielsen CFO Dave Anderson commented, “In the third quarter, we continued to drive adoption of Total Audience Measurement. In Buy, we saw a continuation of challenging end market trends. The leadership team remains focused on executing key growth initiatives to drive improved results. We are also making good progress on efficiency initiatives which are generating increased net productivity in 2018. Importantly, we are reiterating our 2018 guidance for revenue, adjusted EBITDA, and GAAP EPS. However, we are lowering our 2018 free cash flow guidance from $550 to $575 million to $450 to $500 million due to continued working capital headwinds.”
