Revenues Up, Profits Down at NBCU

NEW YORK: First-quarter revenues at NBC Universal saw a 23-percent increase to $4.3 billion, but the company’s segment profit halved in the period to $199 million.

The period’s results were due in part to costs associated with the broadcast of the Winter Olympics—the company lost $223 million on the event, after having shelled out some $820 million just to acquire the games. "NBC, because of the Olympics, was a drag on margins overall," said GE chairman and CEO Jeff Immelt.

GE’s overall revenues were down 5 percent to $36.6 million, with earnings from continuing operations down 18 percent to $2.3 billion.