Comcast up on cable
February 15, 2012
Comcast has reported higher fourth-quarter earnings as its cable profits outweighed losses at NBC broadcast network. One year after buying control of NBCUniversal, Comcast’s fourth-quarter net income was $1.3 billion, up 26 per cent. Revenues rose 54.7 per cent to $15 billion.
“Cable had another terrific quarter of improving customer metrics, demonstrating that our new Xfinity brand and our intensified focus on service and innovation are making a real difference,” Comcast CEO Brian Roberts said in a statement. “Our results at NBCUniversal underscore the strong performance of the cable networks and theme parks, and we continue to make progress enhancing the franchise values of its businesses.”
Revenue for NBCUniversal rose 0.8 per cent to $5.7 billion in the fourth quarter. Operating cash flow decreased 6.8 per cent to $1.1 billion, including $33 million in acquisition-related costs.