Skip to main content

NBCU Reports Higher 3Q Profits Despite Lower Revenue

NBCUniversal reported higher profits for parent company Comcast, led by its broadcast operations.

Earnings before interest, taxes, depreciation and amortization rose 1.6% in the third quarter to $2.1 billion.

Revenue fell 3.5% to $8.3 billion.

Broadcast television EBITDA was up 5.1% to $338 million, despite a 9.1% drop in revenue to $2.2 billion.

Distribution and other revenue was up 5.8%. Advertising revenue was down 12.1% because of comparisons to a year ago when Telemundo broadcast the World Cup. Content licensing was down 17%.

Cable network earnings were down 0.4% to $955 million. Revenue was down 2.8% to $2.8 billion.

The company said distribution revenue was up 1.8%, despite a decline in subscribers. Advertising revenue was "consistent with the prior year,” the company said with higher rates offset by lower ratings. Content revenue declined 27.2%

Overall, Comcast reported higher profits and revenue.

Net income rose 11.5% to $3.2 billion, or 70 cents a share, from $2.9 billion or 62 cents a share.

Revenue rose 21.2% to $26.8 billion

“We delivered excellent results in the third quarter, surpassing 55 million customer relationships and generating strong pro forma growth in adjusted EBITDA and double-digit growth in adjusted EPS," said Comcast CEO Brian Roberts. "We continued our long track record of highly-profitable growth, while also investing in our businesses to further strengthen our leading competitive position. Together, with our leading scale in high-value customer relationships and premium content, we are strategically positioned to thrive in our evolving global industry."

At Comcast’s cable operations, EBIDTA increased 6/7% to $5.8 billion as revenues rose 4% to $14.5 billion.

The company added 288,000 residential customer relationships and 21,000 business relationships. Residential video customers fell by 222,000 to $20.4 million. It added 359,000 residential high speed video customers to 26 million.

Revenue from video fell 0.9% to $5.5 billion. Revenue from high-speed internet rose 9.3% to $4.7 billion.

Ad revenue fell 1.9% to $603 million.