Earnings release
Page 1
News Release Investor Relations : Sara Gubins , +1 646 654 8153 Media Relations : Meg Chari , +1 647 616 8181 ● nielsen NIELSEN REPORTS 2nd QUARTER 2021 RESULTS Revenues of $ 861 million increased 6.2 % on a reported basis , 4.5 % on a constant currency basis & 6.2 % organic Net income per share of $ 0.24 ( diluted , from continuing operations ) ; Adjusted EPS of $ 0.43 Increasing 2021 guidance : raising low - end of revenue and adjusted EBITDA ranges ; raising margin , adjusted EPS and FCF guidance Continued progress on key strategic initiatives across Audience Measurement , Outcomes and Content New York , USA – July 29 , 2021 – Today , Nielsen Holdings plc ( NYSE : NLSN ) announced its results for the quarter ended June 30 , 2021. The Company also increased its 2021 guidance , raising the low - end of its revenue and adjusted EBITDA ranges and raising its adjusted EBITDA margin , adjusted earnings per share ( " EPS " ) , and Free Cash Flow guidance based on strong Q2 results and increased confidence in its full - year outlook . David Kenny , Chief Executive Officer , commented , " Our quarterly financial results demonstrate our continued strategic and operational transformation , as the global media ecosystem evolves . We have increased confidence in our full - year outlook , which is reflected in our updated 2021 guidance . We continue to see healthy renewals from existing clients , growing interest from new clients , and steady progress in our global product development . This includes launching The Gauge as an analytic tool across streaming and linear media , expanding our outcomes portfolio into additional advertisers , and expanding Gracenote into several additional countries . We are executing well against our strategy and roadmap to create long - term value and are pleased with steady progress again this quarter . " Second Quarter 2021 Results Unless indicated otherwise , the results referenced in this press release relate to Nielsen's continuing operations . Beginning in the first quarter of 2021 , Global Connect results were reclassified to discontinued operations for all periods presented . Non - GAAP metrics have been adjusted to exclude certain interest costs , as if the sale of Global Connect and resulting de - levering occurred on January 1 , 2020 . Second quarter revenues increased 6.2 % to $ 861 million on a reported basis , 4.5 % on a constant currency basis , and 6.2 % on an organic basis compared to the prior year period . O Audience Measurement revenues of $ 629 million increased 4.3 % on a reported basis , 3.3 % on a constant currency basis , and 4.0 % on an organic basis compared to the prior year period . Overall growth was solid , particularly in digital measurement , and local pressures have subsided . O Outcomes & Content revenues of $ 232 million increased 11.5 % on a reported basis , 7.9 % on a constant currency basis , and 12.6 % on an organic basis compared to the prior year period . This was driven in part by improving trends in short - cycle revenue , solid growth in Content , and recovery in the Sports business . Net income from continuing operations attributable to Nielsen shareholders increased 207.1 % to $ 86 million , compared to $ 28 million in the second quarter of 2020. Net income from continuing operations per share on a diluted basis for the second quarter was $ 0.24 , compared to $ 0.08 in the second quarter of 2020. The improvement in net income from continuing operations was driven by strong revenue performance , the ongoing benefit of permanent cost actions from the 2020 optimization plan and lower depreciation and amortization expense in the second quarter of 2021. In addition , the second quarter of 2020 included an impairment of long - lived assets related to the exit of certain smaller , underperforming markets and non - core businesses , as well as a restructuring charge related to our 2020 optimization plan . Reported EPS of $ 0.21 includes EPS of $ 0.24 from continuing operations and EPS of $ ( 0.03 ) from discontinued operations . Adjusted earnings per share was $ 0.43 for the second quarter , compared to $ 0.35 per share in the prior year period , reflecting higher adjusted EBITDA and lower depreciation and amortization expense year over year , offset in part by higher taxes . 1