QUARTERLY REPORT

NBC Broadcast TV Revenue Up 7.7% In 3Q

Higher retransmission consent fees are a driver of the gains to $1.8 billion.

Comcast Corp. today reported results for the third quarter of 2014 that included a 7.7% increase in revenue from its broadcast television segment to $1.8 billion compared to $1.6 billion in the same period last year.

That increase was driven by an increase in advertising revenue due to strong ratings at the NBC broadcast network, as well as higher retransmission consent fees and an increase in content licensing revenue.

Operating cash flow increased $108 million to $142 million compared to $34 million in the third quarter of 2013, reflecting higher revenue and a slight increase in operating costs and expenses.

Revenue from the Cable Networks segment increased 0.7% to $2.3 billion compared to $2.2 billion in the third quarter of 2013, reflecting a 5.1% increase in distribution revenue, partially offset by a 4.6% decline in advertising revenue, primarily due to a decline in ratings.

Operating cash flow increased 1.8% to $868 million compared to $853 million in the third quarter of 2013, reflecting higher revenue and flat operating costs, even as we continue to invest in programming.

Revenue for NBCUniversal increased 1.2% to $5.9 billion in the third quarter of 2014 compared to the third quarter of 2013, as revenue growth in Broadcast Television and Theme Parks was partially offset by lower theatrical revenue in the Filmed Entertainment segment.

BRAND CONNECTIONS

For Comcast as a whole, consolidated revenue increased 4% to $16.8 billion, operating cash flow increased 7% to $5.7 billion and operating income increased 9.7% to 3.7 billion.

Brian L. Roberts, chairman-CEO of Comcast Corp., said: “I am pleased to report strong revenue, operating cash flow and free cash flow growth for the third quarter of 2014. Cable results highlight the consistent strength of high-speed Internet and business services, and video customer results were the best for a third quarter in seven years. We continue to focus on innovation and providing the best experience for our customers, and we are thrilled with the response to our superior X1 platform, which recently reached five million boxes deployed.

“At NBCUniversal, we had another outstanding quarter with double-digit operating cash flow growth, driven by ratings momentum at NBC Broadcast and the successful opening of The Wizarding World of Harry Potter — Diagon Alley in Orlando.”


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