VIVENDI UNIVERSAL REPORTS Q1 REVENUE UP

Vivendi Universal today reported Q1 revenue rose 35% to 12.59 billion euros ($11 billion) from 9.36 billion euros, the company said in a faxed statement.

Europe's largest publicly traded media company was formed last year when Vivendi purchased Seagram, owner of Universal Music Group and Universal Studios, and Canal Plus, Europe's biggest pay- television company, for about $40 billion.

Revenue from Vivendi's media and communications unit more than doubled to 5.85 billion euros (just think of it as European Monopoly money) in the first quarter from 2.86 billion euros last year. Revenue from the company's environmental services businesses also rose.

Vivendi Universal shares rose as much as 1.1%, or 85 cents, to 77.65 euros.