QUARTERLY REPORT

Comcast 4Q Broadcast Revenue Slips 3.7%

The company says the dip is due to soft ratings at the NBC network, lower political ad revenue at the owned stations and a quarter that was four days shorter than the previous year’s.

Comcast Corp. today reported results for the quarter ended Dec. 31, 2011, and they included broadcast television revenue of $1.8 billion, down 3.7% from $1.9 billion in the same quarter a year earlier.

The company said the decrease primarily reflected “ratings weakness at the NBC broadcast network, lower political advertising at NBC owned local stations and the impact of four fewer days in our advertising calendar.”

In the fourth quarter, the broadcast television segment generated an operating cash flow loss of $80 million compared to operating cash flow of $55 million in the fourth quarter of 2010, reflecting lower revenue as well as higher marketing costs and acquisition-related accounting revisions totaling $28 million. Excluding these accounting revisions, the fourth quarter 2011 broadcast television operating cash flow loss was $52 million.

NBCUniversal revenue was up slightly, about 1%, to $5.7 billion. NBCUniversal numbers include its national cable networks, the NBC network and owned NBC television stations, the Telemundo network and owned Telemundo TV stations, Universal Pictures filmed entertainment, the Universal theme parks, and other related assets.

Revenue from the cable networks segment increased 5.3% to $2.2 billion compared to $2.1 billion in the fourth quarter of 2010, primarily driven by a 10.4% increase in distribution revenue. Advertising revenue increased 2% this quarter.

Read the company’s report here.

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