Following the news of a proposed buyout last month, Nielsen Holdings posted directionally positive, but modest, financial improvement for its first-quarter earnings release.
Revenues grew 1.6% to $877 million. This includes
measurement revenue inching up 2.1% to $645 million with its impact and content business virtually flat -- 0.4% higher to $232 million.
Nielsen says there was overall growth from national and digital measurement products in the U.S. and in international markets. Local measurement products grew modestly for the fourth quarter in a row.
Net income from continuing operations was $111 million versus $109 million in the first quarter of 2020.
In late March, Nielsen agreed to be acquired for $16 billion in cash and debt assumption by a consortium of private-equity firms led by Elliott Investment Management. Nielsen shareholders would get $28 a share.
The deal is expected to close in the second half of 2022.
Nielsen says its Nielsen One, its major highly anticipated cross platform measurement product, is still on track to launch later this year.
Nielsen has had some major missteps over the past two years -- including under-counting of TV viewership due to lack of maintenance in Nielsen national TV panel homes during the COVID-19 pandemic. This led to the MRC suspending the accreditation of its national and local service.
This has pushed major TV network companies to seek new alternative measurements to Nielsen as well as possible new “currencies” -- which includes teaming with large media agency holding companies to test and experiment with new media data sources.
Nielsen’s Thursday stock price was up 2% to close at $26.84.