Nielsen 1Q Results: Revenue Decreased 2.9%

Nielsen Holdings plc today announced its first quarter 2019 results.

• Revenues were $1,563 million for the first quarter of 2019, down 2.9% reported, but up 0.4% on a constant currency basis, compared to the first quarter of 2018. 
• Net income per share on a diluted basis was $0.12 for the first quarter of 2019, compared to net income per share on a diluted basis of $0.20 for the first quarter of 2018. 
• Adjusted earnings per share was $0.35 per share for the first quarter of 2019, compared to $0.40 per share for the first quarter of 2018. 
• Cash flow from operations improved to $(43) million for the first quarter of 2019, from $(117) million in the first quarter of 2018. 
• Free cash flow for the first quarter of 2019 was $(165) million, compared to $(245) million in the first quarter of 2018.

David Kenny, Chief Executive Officer of Nielsen, commented, "Our first quarter results were ahead of our expectations, reflecting solid execution and continued focus on improving operational and financial rigor across Nielsen. While I'm pleased with our first quarter results, we have a significant opportunity to accelerate our growth rate over time as we leverage and build on our incomparable data assets, our global footprint, and the critical role we play in the media and FMCG industries. We have begun our transformation into a truly product-driven, technology organization, able to make faster, bolder decisions that drive greater value for our clients and for Nielsen."

Kenny continued, "The strategic review is ongoing and the Board is focused on completing the process in as timely a manner as possible. 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 is maintaining its full year guidance as highlighted below:

• Total revenue growth on a constant currency basis: Flat to +1.5%
• Adjusted EBITDA margin: 28 - 29%
• Adjusted EBITDA: $1,800 - $1,900 million
• Adjusted earnings per share: $1.63 - $1.77
• Free cash flow: $525 - $575 million