NBCU Posts Strong Q3 Results Due To Summer Olympics

Comcast’s NBCUniversal posted a sharp rise in third-quarter revenue -- largely due to the Olympics -- growing 28% to $9.2 billion.

Broadcast TV business overall grew 56.6% during the period to $3.1 billion. Advertising revenue increased 92.4%; distribution and other revenue was up 77.5% -- also due to the Olympics.

Without the Olympics revenue overall, broadcast business was down 3.6% to $1.9 billion.

NBC also witnessed benefits to its cable networks from the Olympics, up 22% to 2.9 billion. Advertising revenue increased 15.9%. NBCU says cable distribution revenue increased 27.3%, driven by the 2016 Rio Olympics, as well as contract renewals.

Without the Rio Olympics in August, overall NBCU’s revenue posted a 5.7% rise to $7.6 billion.

NBCU’s filmed entertainment was down 8% to $1.8 billion in the third quarter -- due to lower theatrical and home entertainment revenue. Revenue from its Dreamworks acquisition, dated August 22, was included in its results.



Theme parks improved 61% to $1.4 billion due in large part to its new Hollywood venue “The Wizarding World of Harry Potter” attraction.

Comcast Corp. had one of its better quarters in some time for its core cable operations business, adding video customers -- growing 32,000 in the third quarter. A year ago in the third quarter Comcast had drop of 48,000.

Comcast now has 22.43 million customers.The group also witnessed revenue climbing 4.5% to $5.59 billion.

The company’s Internet/broadband business continues at a faster pace -- 8.8% higher in revenue to $3.4 billion. It also added 330,000 customers during the period -- up from a 320,000 gain in the same period a year ago. Broadband customers now total 24.3 million.

Comcast Corp. revenue grew 14% to $21.3 billion, with net income 15% higher to 2.3 billion.

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