NBCU Profits Fall 41 Percent

NEW YORK: NBC Universal’s revenues in the second quarter were down 8 percent to $3.6 billion, with segment profit down 41 percent to $539 million, partly as a result of the ad downturn.

The financials were released as part of parent company GE’s second-quarter results, which showed a 17-percent drop in revenues to $39.1 billion and a 47-percent slump in profit to $2.7 billion. Commenting on NBCU’s quarter, Jeff Immelt, the chairman and CEO of GE, noted: "While cable continues to deliver solid growth, continued pressure in advertising and local television markets, investment impairments and lower transaction gains contributed to the 41-percent quarterly decline in NBCU earnings."

For the first half of the year, meanwhile, NBCU’s revenues fell 5 percent to $7.1 billion, with profit down 43 percent to $930 million.