Initial public offering proceeds retired $1.75 billion in debt
Reporting results for the first time since going public in January, Nielsen said Thursday revenues in the first quarter rose 9% to $1.3 billion while adjusted net profits grew to $64 million, from $16 million in the year-ago period.The measurement giant said proceeds from its IPO, priced at $23 per share, were used to retire $1.75 billion in debt. CEO David Calhoun said the company continued ”to benefit from our solid global platform and strength within developing markets.” Nielsen offers services in about 100 countries. Nielsen’s shares have risen 12% since its IPO to $28.50.
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