NBCU Sees Strong TV Results, Weaker Film Unit

NEW YORK: Revenues at NBCUniversal were down slightly in the second quarter due to weaker results from its film unit, despite gains in both its broadcast TV and cable networks businesses.

Second-quarter revenues were $7.2 billion, down by 1.8 percent on the same period last year. Broadcast television, bolstered by the Super Bowl, delivered revenues of $2.1 billion, a 17.3-percent gain, while the cable networks contributed $2.6 billion, a 4.7-percent gain. Filmed entertainment, meanwhile, saw revenues drop by 40.4 percent to $1.3 billion. The theme parks business was up, with revenues rising 47 percent to $1.1 billion.

At parent company Comcast Corporation, consolidated revenue rose 2.8 percent to $19.3 billion. Revenues from its Comcast Cable unit were up 6 percent to $12.4 billion. The platform ended the quarter with 22.4 million cable customers.

Brian L. Roberts, chairman and CEO of Comcast, said of the results: “I am pleased to report excellent results as our momentum continues across our businesses. Our cable subscriber and financial performance during the quarter was outstanding. We more than tripled our customer relationship net additions, with our best second-quarter internet customer results in eight years and our best second-quarter video customer results in over ten years, and we successfully balanced this with strong operating cash flow growth. Despite an expected difficult comparison to last year’s record second-quarter film slate, NBCUniversal achieved solid results, driven by strength in our TV businesses and theme parks, which benefited from the successful opening of The Wizarding World of Harry Potter in Hollywood. I am excited about the opportunities ahead for our company as we work together to bring people incredible technology and memorable experiences, and there is no better example than the Olympic Games. The entire organization is gearing up to deliver the most comprehensive and innovative Olympics coverage in history starting next week, which will showcase the incredible breadth of NBCUniversal together with Comcast Cable and the X1 platform.”