BERLIN (CelebrityAccess MediaWire) — German-based media conglomerate Bertelsmann announced a strong first quarter to start 2012, with profits up by 54% to $191 million against the same period last year. The company attributed their strong results to growth from all divisions.
Revenue at the company was also up by 5% to $4.7 billion year, while operating earnings before interest and taxes increased to $362 million from $321 million in the first quarter of 2011.
Bertelsmann Chairman/CEO Thomas Rabe said: "Bertelsmann started the new year on a high note. All of our divisions including corporate investments are seeing growth, and our earnings performance is also very gratifying. This underscores the good starting position that Bertelsmann has established for its planned long-term reshaping into a faster-growing, more digital and more international company." – CelebrityAccess Staff Writers