NBCUniversal Boosts Comcast Results

PHILADELPHIA: Issuing its first set of quarterly results since its takeover of NBCUniversal, Comcast Corporation reported a profit of $943 million, an 8.9-percent gain on the year-ago period, with revenues up 31.8 percent to $12.1 billion.

"We are off to a terrific start in 2011," said Brian Roberts, chairman and CEO, on the first-quarter results. "Cable had an outstanding quarter with continuing momentum in both our residential and business services operations. We had particularly strong growth in high-speed Internet, consistent growth in voice services, and improving video customer results. In addition, our customer retention and service metrics have never been better, and we are leading the industry in delivering new products and innovations to our customers. The performance of NBCUniversal was led by our cable networks, which posted strong growth across the board. While we’ve only been operating the NBCUniversal businesses for three months, we’re encouraged by a seamless integration, and we are working diligently to invest and build value for our shareholders.

"As we begin 2011, we remain focused on execution, which includes driving product leadership and innovation, enhancing our customers’ experience, expanding the entertainment choices we offer consumers and realizing the opportunities of our wonderful company."

Comcast Cable reported revenues of $9.1 billion, a 5.8-percent gain. The platform had 49 million total customers across video, Internet and voice at end March 2011, a 2.8-percent increase.

NBCUniversal, which now includes E!, Style Network and other Comcast channels, had revenues of $4.3 billion, an 11.5-percent decrease due to the $782 million in revenues last year from the Vancouver Olympics. Excluding that intake, NBCU’s revenues gained 5.2 percent. The cable networks brought in $2 billion, a 13.3-percent rise. Broadcast television revenues were down 34.9 percent to $1.4 billion, again as a result of the lack of ad revenues from the Olympics. Filmed entertainment revenues were down 8.2 percent to $975 million as a result of lower theatrical and home-entertainment revenues. Theme park revenues, meanwhile, gained 16.1 percent to $95 million.