QUARTERLY REPORT

NBC 2Q Broadcast TV Revenue Climbs 17%

The increase to $2.1 billion was driven by higher retransmission consent fees, ad revenue as well as money from content licensing.

Comcast Corp. today reported results for the second quarter of 2016. Revenue from its Broadcast Television segment was $2.1 billion, up 17.3% from the same quarter a year ago.

The company said the increase was due to an increase in retransmission consent fees and higher ad revenue. 

Operating cash flow increased 70.5% to $394 million, reflecting higher revenue, partially offset by increased programming and production costs.

Revenue for the Cable Communications segment increased 4.7% to $2.6 billion in the second quarter of 2016, reflecting higher distribution revenue and content licensing and other revenue. 

Revenue for NBCUniversal decreased 1.8% to $7.1 billion in the second quarter of 2016 and operating cash flow remained stable at $1.7 billion.

Brian L. Roberts, Chairman-CEO of Comcast Corp., said: “I am pleased to report excellent results as our momentum continues across our businesses. Our cable subscriber and financial performance during the quarter was outstanding. We more than tripled our customer relationship net additions, with our best second quarter Internet customer results in eight years and our best second quarter video customer results in over ten years, and we successfully balanced this with strong operating cash flow growth.

BRAND CONNECTIONS

“Despite an expected difficult comparison to last year’s record second quarter film slate, NBCUniversal achieved solid results, driven by strength in our TV businesses and Theme Parks, which benefitted from the successful opening of The Wizarding World of Harry Potter in Hollywood.

“I am excited about the opportunities ahead for our company as we work together to bring people incredible technology, and memorable experiences, and there is no better example than the Olympic Games. The entire organization is gearing up to deliver the most comprehensive and innovative Olympics coverage in history starting next week, which will showcase the incredible breadth of NBCUniversal together with Comcast Cable and the X1 platform.”

Read the company’s report here.


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