Movies Boost Quarterly Profit at NBCU

Cash Flow Dips At Cable Networks
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NBCUniversal’s TV businesses had a mixed quarter, with cable network profits down and broadcast up, while its movie business posted huge gains. Operating cash flow increased 17% to $1.7 billion in the third quarter, according to parent company Comcast, which reported earnings Tuesday.

Revenue rose 20.8% to $7.2 billion. The jump was powered by a big jump in Universal’s movie business thanks to Jurassic World, and record attendance at the theme parks.

Operating cash flow for NBCU’s cable networks was down 3.9% to $835 million. Revenue rose 7% to $2.4 billion, ad revenue was up 2% and distribution revenue was up 8.6%. But sports programming costs increased sharply, including the acquisition of rights to NASCAR.

Read more at B&C.

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