Vivendi Chairman and leading shareholder Vincent Bolloré has ample reason to pop the high-grade bubbly, as Sir Lucian Grainge's UMG fueled better-than-expected results for the quarter ending 9/30. The strong showing caused shares to jump more than 10% Thursday.

UMG's industry-leading performance in the streaming sector—which grew 68% in Q3—drove pre-tax earnings to €174 million ($189m), a 75% year-over-year increase at constant exchange rates. Sales rose €1.31 billion ($1.42b), up 11.2%.

UMG saw rises of 2.9% for recorded music, 4.1% for publishing and 8.9% for merchandising and other income, which includes brand deals.

Subscription and streaming revenue has topped $1.1b in the first three quarters of this year, growing by 64% and accounting for 65% of Universal’s digital revenues. Download revenues have fallen 29%.

In the first nine months of 2016, the company has pulled in $595m in non-streaming digital income and $817m from physical sales.

With more than 400 digital services licensed around the world, global splits for recorded-music revenues are holding steady: 44% from North America, 35% from Europe, 13% from Asia and 8% from the rest of the world.

The Paris-based media/telecom power posted EBITDA for its fiscal Q3 of €277 million ($302m), up 26.5% from the same period last year and well ahead of analyst expectations of about €170m ($184.7m). Revenues climbed 6% to €2.69 ($2.92b) billion for the quarter.

Vivendi shares traded Thursday at €20, ($21.73) up €1.93, or 10.7%, on their Wednesday close, making the company the top performer on France's CAC 40 index, The Street reports.