Improved performance at the owned stations is offset by content licensing expenses.
For the second quarter of 2012, revenue from Comcast Corp.’s Broadcast Television segment fell 9.1% to $1.5 billion from $1.7 billion in the same period of 2011, reflecting lower revenue from a content licensing agreement signed in the second quarter of 2011.
Operating cash flow increased 2.7% to $196 million compared to $190 million in the second quarter of 2011, reflecting improved performance at the owned stations, partially offset by increased investment in programming.
Revenue for NBCUniversal decreased 0.8% to $5.5 billion in the second quarter of 2012 compared to last year’s second quarter reflecting the impact on its cable networks and Broadcast Television segments from a content licensing agreement signed in the second quarter of 2011 and underperformance in its Filmed Entertainment segment.
NBCUniversal operating cash flow decreased 15.4% to $982 million compared to $1.2 billion in the second quarter of 2011 reflecting the decrease in revenue as well as higher programming investments.
For Comcast as a whole, revenue increased 3.5% in the second quarter of 2012 to $15.2 billion compared to $14.7 billion in the second quarter of 2011. Consolidated pro forma operating cash flow increased 0.9% to $5.0 billion compared to last year’s second quarter.
Brian L. Roberts, Comcast chairman-CEO, said: “Our solid operating and financial results for the second quarter underscore the strength of our cable company and our focus on driving operational excellence and technology innovations. We are improving the customer experience and delivering exceptional products, which are the foundation for cable’s continued momentum in high-speed internet and business services and stronger video and voice customer results.
“NBCUniversal’s second quarter performance came in as anticipated, and we continue to be very positive about our opportunities to build value across all the NBCUniversal businesses. Comcast Cable and NBCUniversal are also working well together to launch innovative products and experiences — and these efforts are being showcased now as we utilize all of our content and technology platforms to deliver the most comprehensive Olympics coverage ever.”
Read the company’s report here.