Nielsen Holdings plc (NYSE:NLSN) Q1 2018 Earnings Conference Call Transcript

Apr 26, 2018 • 08:00 am ET

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Nielsen Holdings plc (NYSE:NLSN) Q1 2018 Earnings Conference Call Transcript

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Presentation
Operator
operator

Good morning. My name is Carol and I will be your operator today. At this time, I would like to welcome everyone to the Q1 2018 Nielsen Holdings Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. We ask that you limit yourself to one question and re-queue for any additional questions.

(Operator Instructions) At this time, I would like to turn the call over to Sara Gubins, SVP, IR.

Executive
Sara Gubins

Thanks, Carol. Good morning, everyone, and thank you for joining us to discuss Nielsen's first quarter financial performance.

Joining me on today's call is Mitch Barns, CEO, and Jamere Jackson, CFO. A slide presentation that we'll use on this call is available under the Events section of our IR website.

(Forward-Looking Cautionary Statements) We will be discussing non-GAAP measures during this call for which we have provided reconciliations in the appendices of today's presentation and will be posted on our website. Our actual results in future periods may differ materially from those currently expected because of a number of risks and uncertainties. The risks and uncertainties that we believe are material are outlined in Nielsen's 10-K and other filings and materials which you can find on our IR website or at sec.gov.

For Q&A, as always, we ask you to limit yourself to one question, only so that we can accommodate everyone. Feel free to join the queue again. And if time remains, we will call on you.

And now to start the call, I'd like to turn it over to our CEO, Mitch Barns.

Executive
Mitch Barns

Thanks, Sara. Good morning, everyone. Thanks for joining us on the call. In the first quarter, we continued to execute on our key initiatives while focusing on our Path to 2020 objectives through continuous innovation. We're transforming our business in three major areas, Watch, Buy and Operations, to drive a faster growing, higher margin business and create incremental value for our shareholders.

I'll turn it over to Jamere to review the financials and then, I'll come back to cover five important topics.

Jamere?

Executive
Jamere Jackson

Thank you, Mitch. Overall, we continue to deliver positive top line growth due to the strength of our portfolio across Watch and Buy, while our Buy business continues to operate in a challenging set of market conditions. Our teams are focused on execution, which means driving growth in Watch and the emerging markets in Buy, investing in key initiatives and driving efficiency and productivity across our entire business. Our results in the first quarter reflect these dynamics.

First, let me give a few more details on our total Company performance in the first quarter. On the left side of the page are our results on a US GAAP basis. Revenue was just over $1.6 billion, up 5.5% on a reported basis, driven by solid growth in our Watch segment and the emerging markets in Buy. In addition, revenues were impacted by 310 basis points benefit in foreign