Ad revenues from the Summer Olympics drove NBC’s revenues 83.8% higher in 3Q as NBCUniversal posted double-digit growth for parent Comcast. Even without the Olympics television revenues were up 5.2%.
3Q revenues wer up 15.4% to $16.5 billion for Comcast as operating cash flow (OCF) rose 9.5% to $5.0 billion. Cable revenues were up 6.9% to $10.0 billion, but the star performer was NBCUniversal, where revenues surged 31.2% to $6.8 billion and OCF gained 19.9% to $1.1 billion.
Revenue from the Broadcast Television segment increased 83.8% to $2.8 billion compared to $1.5 billion in the third quarter of 2011 and included $1.2 billion of revenue generated by the 2012 London Olympics. Excluding the Olympics, revenue increased 5.2%.
Operating cash flow from television was $88 million, which included $120 million of operating cash flow generated by the Olympics, compared to a loss of $7 million in the third quarter of 2011. Excluding the Olympics, operating cash flow declined by $25 million reflecting higher programming costs related to an early start of our fall TV season and news coverage of the Presidential election, the company said in an announcement ahead of management’s quarterly confence call wi8th analysts.
“NBCUniversal’s results highlight the strong performance of the Olympics and steady progress in its businesses as we invest to build value. The London Olympics exceeded all our expectations and our entire company contributed to their success, proving how effective we can be when we bring together our unique assets and capabilities,” said a statement from Comcast chairman-CEO Brian Roberts.
NBCU’s Cable Networks division saw revenues rise 3.2% to $2.2 billion. OCF gained 7.6% to $809 million.
Read the Comcast financial release by clicking HERE.