NBCU Revenues Slip in Q1

PHILADELPHIA: NBCUniversal’s first-quarter revenues fell slightly to $5.5 billion, while parent company Comcast Corporation saw overall revenues gain about 3 percent to $15.3 billion.

NBCUniversal’s cable networks division was up by 4.6 percent in the period to $2.2 billion in revenues, led by an 8.6-percent rise in distribution revenues; ad revenues were up 2.5 percent. Broadcast television revenues dropped 18.5 percent to $1.5 billion, due in part to difficult prior-year comparison—when NBC aired the Super Bowl—as well as lower-prime-time ratings at the network. Filmed entertainment gained 2 percent to $1.2 billion and the theme parks business contributed $462 million, a 12.2-percent hike.

Comcast’s cable segment delivered a 6.4-percent revenue increase to $10.2 billion, and ARPU was up 8.1 percent to $155.05. At the end of the period, the total number of voice, phone and high-speed Internet customers was 51.9 million, a 3-percent increase. The number of video customers slipped to 21.9 million in the period.

Overall, Comcast Corporation’s operating income was $3.1 billion, an 11.2-percent increase.

"We are off to a solid start in 2013, with strong revenue and cash flow growth and record quarterly free cash flow," said Brian Roberts, chairman and CEO. "Cable’s results highlight revenue growth in every product, led by video and high-speed internet, and overall customer growth, as we continue to effectively balance financial and customer performance. NBCUniversal’s businesses also generated strong first quarter performance, led by film and cable networks. We completed the acquisition of NBCUniversal during the quarter and look forward to continuing to drive innovation and operational excellence to deliver superior entertainment and communications choices for consumers.”