Comcast/NBCUniversal posts strong Q3


Comcast and NBCUThe numbers were good at media hybrid Comcast/NBCUniversal, where a relatively modest gain in revenue produced much better gains in free cash flow and earnings per share.

Overall, a 4% gain in revenue to $16.8B produced a 26.7% gain in FCF to $2.5B and a 52.3% gain in EPS to $0.99.

NBCUniversal has only a 1.2% gain in revenue, but operating cash flow increased 13.3% and broadcast revenue grew 7.7%.

Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said, “I am pleased to report strong revenue, operating cash flow and free cash flow growth for the third quarter of 2014. Cable results highlight the consistent strength of high-speed Internet and business services, and video customer results were the best for a third quarter in seven years. We continue to focus on innovation and providing the best experience for our customers, and we are thrilled with the response to¬†our superior X1 platform, which recently reached five million boxes deployed. At NBCUniversal, we had another outstanding quarter with double-digit operating cash flow growth, driven by ratings momentum at NBC Broadcast and the successful opening of The Wizarding World of Harry Potter-Diagon Alley in Orlando.”

Cable was up 5.2% to $11B, on the strength of increases internet and business subscribers.

The 7.7% increase in broadcast television took its total revenue from $1.6B to $1.8B. It benefitted from higher retransmission consent revenue and content licensing.