Profits at NBCU Down 30 Percent

NEW YORK: On revenues that slipped 4 percent to $4.3 billion in the fourth quarter, NBC Universal recorded a profit of $602 million, a 30-percent decline on the year-ago quarter.

For the full year, meanwhile, revenues were down 9 percent to $15.4 billion, with a profit that was down by 28 percent to $2.3 billion. There were some positive results for the company, however, with revenue gains at its cable networks segment; but those were not enough to make up for short-falls in broadcast network revenues, falling DVD sales and increased sports programming costs.

The results were reported as part of parent company GE’s financials today. In December, GE inked a deal for a joint venture with Comcast Corporation that would take control of NBCU. That transaction is being reviewed by anti-trust authorities in the U.S.