Olympics Boost Comcast Results

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PHILADELPHIA: NBCUniversal’s coverage of the Olympic Games from London this summer helped drive a 15.4-percent gain in revenues at Comcast Corporation to $16.5 billion for the third quarter.

"The third quarter continues our momentum," said Brian L. Roberts, chairman and CEO. "Cable’s results show real strength in every part of the business, producing sustainable and profitable growth while we expand our product offerings, deliver more innovation and continue to transform the customer experience. NBCUniversal’s results highlight the strong performance of the Olympics and steady progress in its businesses as we invest to build value. The London Olympics exceeded all our expectations and our entire company contributed to their success, proving how effective we can be when we bring together our unique assets and capabilities.”

NBCUniversal’s revenues rose 31.2 percent to $6.8 billion, with the London Olympics contributing revenues of $1.2 billion. Total broadcast television revenues were $2.8 billion, an 83.8 percent increase. Cable network revenues rose by 3.2 percent to $2.2 billion, with ad revenues flat and distribution revenues up 5.7 percent. Filmed entertainment was up 23.6 percent to $1.35 billion, led by the theatrical performance of Ted and The Bourne Legacy. The theme park revenues were $614 million, a 5.8 percent increase.

At Comcast Cable, Q3 revenues were up by 6.9 percent to $10 billion, with ARPU up 8.7 percent to $150.73. At the end of September, the company had 50.8 million video, high-speed Internet and voice customers, a net increase of 3 percent. Its base of video customers fell slightly to 22 million.

Comcast Corporation posted a net profit of $2.1 billion, as compared with $908 million in Q3 2011.