With $1.5 billion in the first quarter of 2016, Nielsen revenue was up 2.0%, or 5.2% on a constant currency basis, compared to the first quarter of 2015. The Audio Division revenue (which includes the old Arbitron) grew 0.8% on a constant currency basis, which Nielsen says was what was expected.
Revenues within Nielsen’s Watch segment increased 5.2%, or 6.3% on a constant currency basis, to $694 million. Audience Measurement of Video and Text revenues increased 7.5% on a constant currency basis due to the continued client adoption of the company’s Total Audience Measurement framework, and continued investments.
Cash flow decreased to $87 million for the first quarter of 2016 from $101 million in the first quarter of 2015 due to a $36 million contribution to the Nielsen Foundation. Free cash flow for the first quarter 2016 increased to $14 million from a use of $1 million in the first quarter of 2015. As of March 31, Nielsen’s cash balances were $432 million and gross debt was $7.6 billion. Net debt (gross debt less cash and cash equivalents) was $7.3 billion and net debt leverage ratio was 3.84x at the end of the quarter. Net capital expenditures were $109 million for the first quarter of 2016 compared to $102 million in the first quarter of 2015.
