A slight increase in ad revenue and higher retransmission consent fees were offset by lower content licensing revenue, keeping Broadcast Television segment revenue at $1.8 billion.
Comcast Corp. today reported results for the second quarter of 2015. Revenue from the Broadcast Television segment remained flat at $1.8 billion, reflecting a slight increase in advertising revenue and higher retransmission consent fees, which were offset by lower content licensing revenue.
Operating cash flow decreased 3.7% to $231 million compared to the second quarter of 2014, primarily reflecting increases in other operating and administrative expenses, which were largely offset by a decrease in programming and production costs associated with the timing of the airing of certain primetime shows.
Revenue from the Cable Communications segment increased 6.3% to $11.7 billion in the second quarter of 2015 compared to $11.0 billion in the second quarter of 2014, driven by increases of 10.0% in high-speed Internet, 20.4% in business services and 3.7% in video. The increase in Cable revenue reflects increased customer relationships, customers receiving higher levels of service and customers taking additional services, as well as rate adjustments.
For Comcast as a whole, consolidated revenue increased 11.3% to $18.7 billion. Consolidated operating cash flow increased 8.0% to $6.3 billion. Excluding $79 million of Time Warner Cable and Charter transaction-related costs in the second quarter of 2015 and $44 million in the second quarter of 2014, consolidated operating cash flow increased 8.5%. Consolidated operating income increased 7.9% to $4.1 billion.
Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said, “Our second quarter results, including 11.3% revenue growth and 8.0% operating cash flow growth, demonstrate the strength and momentum we are seeing across our businesses. In Cable, high-speed Internet and business services continued to perform extremely well, and, significantly, this was the best second quarter video customer results we’ve had in nine years. Our focus on accelerating the deployment of our transformative X1 platform, as well as efforts to improve customer service, are clearly making a difference, with lower churn across all product categories. NBCUniversal had an exceptional quarter, led by the record-breaking box office performances of Jurassic World and Furious 7 and continued strong momentum in our theme parks. In addition, NBC won the 2014-2015 broadcast season for adults 18-49. Our teams are executing incredibly well across our strong and diversified portfolio, and I am excited for what we can deliver in the rest of 2015 and beyond.”
Read the company’s report here.