A presentation is posted on our website ir.nielsen.com with summary information for this call. With that I will now turn the call over to David Calhoun.David Calhoun Thanks Liz, thanks everyone for joining us. Let me start with the financial picture. I would characterize this as a high quality quarter. We had a good strong performance from pretty much everyone. Revenue grew at 10% on a reported basis, 6% on a constant currency basis. Adjusted EBITDA grew 10% and 7% on a constant currency basis, and as I have characterized in previous quarters we really remain fully invested funding all of the things that we would like to do and the opportunities we see ahead. Brian will take you into a fair amount of more detail. Before that just a couple of comments on more of a macro basis. First with respect to the economy you know that recently we published a competence metric that was relatively low compared to many of the quarters previously. What is very interesting about this moment in time is that while confidence is low, and I attribute most of it to a lot of the political rhetoric and media coverage that accompanies it. Underlying retail performance is not so bad, and so as I survey and talk to clients in our world with respect to planning for next year, I don’t see much in the way of pulling back. What I do see is caution, I do see hedging, I do see those kinds of moves, but nothing like what we saw in the tail end of ’08 going into 2009. With respect to macroeconomic trends, the two things that matter to us most are still going full speed ahead. We continue to expand our developing market coverage and the measurement of content viewing across both platforms and devices. These trends will continue for quite some time and offers us opportunities every step of the way.
If there is any geographic weakness or I would more refer to it as sluggishness, it’s Europe, Western Europe. Western Europe has continued to be a sort of a sluggish pattern for us and I expect it to stay that way for quite some time.With respect to initiatives, like everyone knows we closed on the Wal-Mart Coop agreement and we are in full implementation mode. It is going very well. The program continues to deliver. The way I think you ought to think about economic models is roughly second quarter next year we will have numbers to report to manufacturers and then therefore revenue opportunities to be realized during that second quarter. Our view is that this gets to EBITDA positive by 12 month period from the start. Nielsen Online campaign ratings were in over a 100 active campaigns being run on it. We have got 18 very significant, what I would refer to as sophisticated advertisers, are running these campaigns, and so far so good. Each and every one of these campaigns will build their own use case, meaning what do they do to adjust as they go forward based on the numbers that we track and report to them every day. Finally, we made an acquisition of a small company called Marketing Analytics. Well, it’s small, it’s very important to us, because I think as you know Marketing Analytics is in the business of marketing mixed models. These are the models that advertisers use to allocate marketing funds from across different mediums and also across sales promotion. This is the way we affect movement of real money through different mediums, and for us that’s very important. Finally, we will reaffirm our 2011 guidance and I will turn it over to Brian to dig into the financials. Read the rest of this transcript for free on seekingalpha.com