NBC TV helps Comcast to Q2 revenue growth


Comcast and NBCUThe numbers look good at Comcast Corporation, and the NBC Universal segment was a major participant in the good times. In fact, Chairman/CEO Brian Roberts noted that NBCU was picking up steam.

Roberts said, “We are pleased with our results this quarter. Cable had outstanding growth, particularly in high-speed Internet, and NBCUniversal had strong performance across all of its businesses. Our focus on delivering innovative products and a superior customer experience is driving our success, including stronger video, voice and business services results in cable. NBCUniversal has real momentum, with solid growth in revenue and double-digit cash flow growth. We have a fantastic combination of cable and content businesses with many opportunities ahead.”

Overall, the corporation enjoyed revenue growth of 7% to $16.27B, and operating cash flow growth of 8.4% to $5.425B. Operating income increased 11.6% to $3.435B, and free cash flow jumped 25.4% to $1.948B.

NBCU overall increased revenue 8.95% to $5.995B, and the television segment was one of the drivers, gaining 11.6% to 1.732B.
The company offered color on its television results, saying, “For the second quarter of 2013, revenue from the Broadcast Television segment increased 11.6% to $1.7 billion compared to $1.6 billion in the second quarter of 2012, driven by a 13.0% increase in advertising revenue, primarily reflecting higher primetime ratings at the NBC broadcast network, and higher retransmission consent fees, partially offset by lower content licensing revenue due to the timing of content availability. Operating cash flow increased 6.4% to $206 million compared to $194 million in the second quarter of 2012, reflecting higher revenue, partially offset by an increase in programming and production costs associated with the timing of the airing of certain shows in our primetime schedule”

On the OCF side, NBCU was up 21.3% to $1.191B. Here, the television wing was a bit of a sea anchor but still posted 6.4% growth to $206M.

The biggest disappointment for NBCU was delivered by its amusement parts, which grew revenues only 1.1% and suffered a 1.6% loss in the OCF department.

The company’s core cable assets grew 5.8% to $10.467B, with the primary growth coming from its business services segment, up 26.4% to $788M. In general, Comcast is losing video subscribers but it’s picking up internet and voice customers.


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