NBCUniversal Earnings Rise in Q2

NBCUniversal saw 17.3 percent revenue growth and 22.6 percent Adjusted EBITDA growth in its second quarter, with a particularly strong performance from its film unit.

Revenue for NBCU in Q2 totaled $8.3 billion, while Adjusted EBITDA was at $2.1 billion.

Cable networks revenue increased 5.1 percent to $2.7 billion, with higher distribution and content licensing and other revenue, partially offset by lower advertising revenue. Ad revenue decreased 0.9 percent, due to audience ratings declines, mostly offset by higher rates. Adjusted EBITDA increased 11.7 percent to $1.1 billion.

Broadcast TV revenue was up 5.3 percent to $2.2 billion, seeing higher distribution and other and content licensing revenue, partially offset by a decline in ad revenue. Adjusted EBITDA increased 5.5 percent to $416 million.

Revenue from filmed entertainment spiked 59.6 percent to $2.2 billion. Theatrical revenue increased by $540 million to $837 million, driven by the strong performance of The Fate of the Furious. Home entertainment, content licensing and other revenue also saw a nice lift. Adjusted EBITDA increased by $229 million to $285 million, as higher revenue was partially offset by higher programming and production costs.

Theme parks revenue grew 15.6 percent to $1.3 billion, and Adjusted EBITDA in the segment was up 17.3 percent to $551 million.

Overall, Comcast Corporation’s Q2 net income rose 24 percent to $2.5 billion. Revenues rose 9.8 percent to $21.2 billion.

Brian L. Roberts, the chairman and CEO of Comcast Corporation, said, “We delivered terrific results during the second quarter, highlighted by 10 percent growth in Adjusted EBITDA, which continued our strong progress in 2017. Thanks to broad-based momentum across our businesses, our first half Adjusted EBITDA growth is the fastest in six years. NBCUniversal continued to deliver outstanding performance, with 17.3 percent revenue growth and 22.6 percent Adjusted EBITDA growth. Driving these tremendous results were the box office success of Fate of the Furious, continued increases in affiliate and retransmission revenues at our TV businesses, and impressive growth at our theme parks. At Cable Communications, we generated strong Adjusted EBITDA growth and added 114,000 net new customer relationships, demonstrating our disciplined approach to driving profitability and customer metrics. We launched our fantastic new xFi experience for in-home broadband during the quarter, the latest example of our culture of innovation and continued focus on developing differentiated products and services for our customers. Our teams continue to execute incredibly well and I am excited about the opportunities ahead for Comcast NBCUniversal.”