NBCU Reports Higher Q4 Profit on Cable Gains

Comcast gets tax benefits, hikes dividend
Author:
Publish date:
Updated on
NBCUlogoRESIZED.jpg

NBCUniversal reported higher profit in the fourth quarter, driven by a strong performance at its cable networks.

Adjusted earnings before interest, taxes, depreciation and amortization were $1.9 billion, up 5.4% from a year ago, according to parent company Comcast, which reported a big gain in earnings from tax benefits and increased the dividend on its stock.

Read More: Comcast Sheds 33K Video Customers in Q4

NBCU’s revenue rose 3.9% to $8.8 billion in the fourth quarter

Earnings at NBC’s broadcast television operations fell 26.3% to $194 million in the fourth quarter because of higher programming and production costs, driven by higher sports costs. Broadcast revenue was up 4.1% to 3 billion. Distribution and content licensing were up but advertising revenue was down 6.5%, reflecting lower ratings.

Earnings from NBCU cable networks were up 9.1% to $10 billion. Revenue increased 7.5% to $2.7 billion. Distribution revenue was up 6.7%, content licensing revenue increased 34.5%, and advertising revenue was up 2.3%.

Comcast’s fourth-quarter net income jumped more than 500% to $15 billion, or $3.17 a share, from $2.23 billion, or 48 cents, a year ago. The earnings included $12.7 billion in income tax benefits as a result of the recently passed tax law. Excluding the tax benefits and other adjustments, earnings per share were up 8.9% to 49 cents a share from 45 cents a year ago.

Read more at broadcastingcable.com.

Related