NBCUniversal Comes to Comcast’s Rescue
Comcast Corp. (NASDAQ:CMCSA) reported third-quarter results after the opening bell Wednesday that showed growth across the company’s different businesses, especially in media arm NBCUniversal, though the struggle of the decaying pay-TV model was still present in Comcast’s report.
Throughout the company’s earnings, last year’s Olympic games were taken into account in reporting growth. Comcast made $1.2 billion in revenue and gained $120 million in operating cash flow from broadcasting the 2012 Summer Olympics. Excluding that figure, consolidated revenue grew 5.2 percent and operating cash flow increased 10.5 percent.
Earnings per share came in at 65 cents, an increase of 41.3 percent if you exclude the company’s interest in buying A&E Television Networks and gains from selling its share of SpectrumCo’s wireless spectrum licenses in the third quarter of 2012. If you include those items, earnings actually fell 16.7 percent.