Profit Rises at Comcast

PHILADELPHIA: Profit was up 4.7 percent at Comcast for the third quarter, with revenues that climbed 51 percent to $14.3 billion.

Net income for the three months ended September 30 was $908 million. Operating income reached $2.61 billion, a gain of 35.1 percent.

NBCUniversal accounted for $5.2 billion of total revenue, a 4.6-percent gain. Operating cash flow, however, fell 9.3 percent to $951 million. NBCU’s cable networks posted revenue increases of 12 percent to $2.1 billion, with a 10.2-percent increase in distribution, a 9.5-percent increase in ad revenue and a 37.2-percent increase in other revenue (primarily due to increases in the licensing of owned content from the cable production studio). The NBC broadcast network had revenues that were up 2.9 percent to $1.5 billion, with an operating cash flow loss of $7 million compared to operating cash flow of $70 million in the same period in 2010.

Brian L. Roberts, the chairman and CEO of Comcast Corporation, said, “I am pleased to report strong performance across key financial, operational and product areas. Cable had an outstanding quarter, led by continuing strength in high-speed Internet and business services. In addition, this marks the fourth consecutive quarter of improving customer metrics, including increased year-over-year high-speed Internet customer additions. We are driving product leadership and innovation and making significant progress in delivering improved service experiences for our customers. NBCUniversal’s results underscore the strength of our core cable networks business, as well as terrific momentum at the theme parks. Our goal for NBCUniversal is to improve and build brands, and to enhance long-term value. Overall, this quarter continued our momentum toward a successful integration.”