Monday, November 30, 2020

NBCUNIVERSAL LOOKING HEALTHIER UNDER COMCAST

May 2, 2012 by · Leave a Comment 

It goes without saying that owning the television network that broadcasts the Super Bowl can be beneficial to a company’s financial health during the first quarter of any year. But Comcast’s purchase of NBCUniversal in January 2011 has reaped benefits for the company in other ways as well, pushing its first-quarter profits to $1.224 billion, or 30 percent ahead of last year’s $943 million for the quarter. It was the Universal side of the business that showed the most impressive gain, helped by the theatrical release of the animated Dr. Suess’ The Lorax and strong DVD and Blu-ray sales for Hop and Tower Heist. NBCUniversal’s cable networks, including USA Networks, MSNBC, CNBC, Bravo, A&E and others, saw their overall revenue grow 5.8 percent to $2.1 billion, but that figure was offset by higher production costs. And although Comcast’s cable TV business lost 37,000 video subscribers during the quarter, it picked up more than 164,000 for its broadband and telephone services. Although the results came in ahead of analysts’ estimates, Comcast shares tumbled 2.3 percent in early trading on the Nasdaq to $29.90 as profit-taking set in after the shares had risen to a 52-week high.