NBCUniversal, Comcast Post Revenue Gains

Fourth-quarter revenues at Comcast Corporation were up 9.5 percent to $30.3 billion, with NBCUniversal’s rising 25.6 percent to $9.3 billion.

Comcast Corporation delivered net income of $3.1 billion, a 9.6 percent reduction on the year-ago period.

“We continue to execute extraordinarily well, strengthening our leadership position in connectivity, aggregation and streaming, while working to have a lasting impact on our communities through our commitment to DE&I and digital equity,” said Brian L. Roberts, chairman and CEO. “Looking ahead, we remain focused on our many exciting organic growth opportunities across all of our businesses. Our top priority is increasing the capacity of our network in the U.S. and further improving our world-class broadband experience. We are producing more of the premium content that our viewers love and continue to provide them with multiple ways to access it, including on Peacock while ramping construction of Epic Universe and welcoming even more guests to our theme parks. And, significantly, we are expanding the reach of our proprietary global technology platform and addressable customer base, starting with Sky Glass and XClass TV.”

NBCUniversal posted revenue gains across its various business segments. Media revenues were up 8.4 percent to $5.8 billion, with distribution revenues up 11.6 percent and ad revenues rising 6 percent. The studios segment posted revenues that were 36.4 percent higher at $2.4 billion, driven by a 33.7 percent boost in television content licensing and a 30.4 percent improvement in home entertainment and other revenue. Theme park revenues rose to $1.9 billion.

Sky’s revenues slipped by 2.5 percent on a constant currency basis to $5.1 billion, as direct-to-consumer revenues dropped by 1 percent to $4.1 billion and content revenues fell 23.4 percent to $327 million, while ad revenues were up slightly to $712 million. Total customer relationships increased by 61,000 to 23 million.

At Comcast Cable, revenues rose 4.5 percent to $16.4 billion, with improvements in wireless, business services and broadband helping to offset reductions in video, voice and advertising revenues. The company added 212,000 broadband customers but shed 373,000 video customers and 176,000 voice customers. Total customer relationships increased by 169,000 to 34.2 million in the fourth quarter of 2021.