NBCU Profit Down 45 Percent

NEW YORK: First-quarter profit at NBC Universal fell 45 percent to $391 million, on revenues that were down just 2 percent to $3.5 billion, parent company GE reported today.

GE’s total revenues, meanwhile, fell 9 percent to $38.4 billion, with profit of $2.8 billion, reflecting a 35-percent fall. “Amid a continued weak economy, we’re performing well and our backlog remains strong," said Jeff Immelt, GE’s chairman and CEO.

Immelt said of NBCU’s results: "While cable continued to deliver double-digit growth, NBC Universal had a tougher performance overall due to a soft advertising market and fewer major DVD releases compared to a year ago."