Comcast Confirms Company Broke Even On Olympics, Expects Profit From Future Games
Comcast during its Q3 earnings conference call Friday "confirmed that it broke even on the Summer Games," according to the Georg Szalai of the HOLLYWOOD REPORTER. Comcast Chair & CEO Brian Roberts on an earnings conference call said that "his team continues to expect future Olympics to turn a profit." Roberts: "We now have more confidence than ever the Olympics can be profitable." Comcast CFO Michael Angelakis said, "Overall, the London Olympics were break even when you take into account other Olympics-related revenues that are booked over multiple quarters." Roberts said he was "proud" of the London Games coverage and lauded staff for how "the whole company worked together" (HOLLYWOODREPORTER.com, 10/26). BLOOMBERG NEWS reports revenue at NBCUniversal rose 31% to $6.8B, "buoyed in particular" by the London Games. Excluding the Olympics, NBCU revenue was up 8%. The "broadcast segment saw revenue, including $1.2 billion from the Olympics, increase 83%; broadcast revenue excluding the games rose 5%" (BLOOMBERG NEWS, 10/26).