NBCUniversal’s TV businesses had a mixed quarter, with cable network profits down and broadcast up, while its movie business posted huge gains. Operating cash flow increased 17% to $1.7 billion in the third quarter, according to parent company Comcast, which reported earnings Tuesday.
Revenue rose 20.8% to $7.2 billion. The jump was powered by a big jump in Universal’s movie business thanks to Jurassic World, and record attendance at the theme parks.
Operating cash flow for NBCU’s cable networks was down 3.9% to $835 million. Revenue rose 7% to $2.4 billion, ad revenue was up 2% and distribution revenue was up 8.6%. But sports programming costs increased sharply, including the acquisition of rights to NASCAR.
Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.
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