Comcast Posts Q2 Profit

PHILADELPHIA: Comcast Corporation reported revenue of $15.2 billion for its second quarter, up 6.1 percent from a year ago, and net income rose to $1.35 billion, up 32 percent.

Revenue for NBCUniversal was down slightly, 0.8 percent, to $5.5 billion. Revenue at the cable networks segment grew 3.6 percent to $2.3 billion, led by a 6.8 percent increase in distribution revenue and a 4.1 percent increase in ad revenue. The broadcast TV segment dipped 9.1 percent to $1.5 billion, with lower revenue from a content licensing agreement signed in the second quarter of 2011. Filmed entertainment took a hit of 1.8 percent to $1.2 billion. The segment was hurt by the poor box-office of Battleship. The theme parks segment was up 3.4 percent with revenue of $539 million.

Brian L. Roberts, the chairman and CEO of Comcast Corporation, said, “Our solid operating and financial results for the second quarter underscore the strength of our cable company and our focus on driving operational excellence and technology innovations. We are improving the customer experience and delivering exceptional products, which are the foundation for cable’s continued momentum in High-Speed Internet and Business Services and stronger Video and Voice customer results.

"NBCUniversal’s second quarter performance came in as anticipated, and we continue to be very positive about our opportunities to build value across all the NBCUniversal businesses. Comcast Cable and NBCUniversal are also working well together to launch innovative products and experiences—and these efforts are being showcased now as we utilize all of our content and technology platforms to deliver the most comprehensive Olympics coverage ever.”