Nielsen shares jump 10% premarket as earnings top estimates, company unveils $2.7 billion deal

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Nielsen Holdings PLC shares jumped 10% in premarket trade Monday, after the provider of audience measurement services posted better-than-expected third-quarter earnings, tweaked the lower end of profit guidance and announced a $2.7 billion deal. Nielsen posted net income of $7 million, or 2 cents a share, for the quarter, after a loss of $472 million, or $1.33 a share, in the year-earlier period, when it booked an impairment charge of $1.004 billion. Adjusted EPS came to 43 cents, ahead of the 39 cents FactSet consensus. Revenue edged down to $1.563 billion from $1.616 billion, but was also ahead of the $1.520 billion FactSet consensus. The company said it now expects full-year adjusted EPS to range from $1.54 to $1.62, compared with prior guidance of $1.50 to $1.62. It said it agreed to sell Nielsen Global Connect business to private-equity firm Advent International for $2.7 billion. Proceeds will be used to execute its growth strategy . Shares have fallen 33% in the year to date, while the S&P 500 has gained 1.2%.
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