SBD/April 22, 2014/Finance

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  • Sochi Games Provide Q1 Financial Jolt For NBCUniversal, Comcast

    NBCU generated more than $1.1B in revenue for its broadcast of the Games

    The Sochi Games "boosted TV ratings, revenue and profit" at NBCUniversal, while parent company Comcast "reported its second quarterly video subscriber increase in a row," according to Georg Szalai of the HOLLYWOOD REPORTER. NBCU "aired the Winter Games on its broadcast and cable networks in the latest quarter" and generated more than $1.1B in revenue. Quarterly broadcast TV revenue rose 72.8% to $2.6B, including $846M "generated by the Sochi Olympics." Excluding that, revenue increased 17% "amid higher advertising revenue and retransmission consent fees." Broadcast operating cash flow of $122M "meant a swing" from a year-ago loss of $35M. Higher revenue was "partially offset by higher programming and production costs due to the Olympics." Cable networks revenue jumped 12.6% to $2.5B in Q1, including $257M in Sochi revenue. Excluding that, revenue edged up 1% amid a 1.4% drop in ad revenue. Cable operating cash flow of $895M rose 5% as higher revenue was "partially offset by higher programming and production costs due to the Olympics" (HOLLYWOODREPORTER.com, 4/22). Comcast said that its Q1 '14 profit came to $1.87B compared to $1.44B in the year-earlier period. Comcast added that revenue "rose 14%" to $17.4B, compared with $15.3B a year earlier. Revenue without Sochi rose 6.5% to $16.3B (VARIETY.com, 4/22). At press time, shares of Comcast were trading at $51.49, up 3.22% from Monday's close of $49.88 (THE DAILY).

    Print | Tags: NBC, Finance, Comcast Corp.
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