NBCUniversal’s cable and broadcast networks chalked up solid gains in cash flow and revenues during the second quarter, owner Comcast announced.
Operating cash flow rose 21.3% to $1.2 billion in the quarter for NBCU. Revenues improved 8.9% to nearly $6 billion.
NBCU’s cable networks, including USA, Bravo and Syfy, had operating cash flow of $860 million, up 8.9% from a year ago. Revenues advanced 7.7% to $2.4 billion. Ad revenue was up 5.7% , while distribution revenue gained 4.4%. The revenue gain also reflected a new content licensing agreement.
The company’s broadcast television unit, including NBC, showed a 6.4% increase in cash flow. Revenue rose 11.6% to $1.7 billion. Advertising revenue was up 13% reflecting higher ratings, the company said. Retransmission fees also grew, though content licensing revenue was lower.
“NBCUniversal had strong performance across all of its businesses,” Brian Roberts, CEO of Comcast, said in a statement. “NBCUniversal has real momentum, with solid growth in revenue and double-digit cash flow growth. We have a fantastic combination of cable and content businesses with many opportunities ahead."
Comcast’s overall net income was $1.7 billion, or 65 cents a share, in the quarter, up 29% from $1.3 billion or 50 cents a share a year ago, and exceeding Wall Street forecasts.
Revenue rose 7% to $15.2 million.
Cable operating cash flow rose 5.7% to $4.3 billion on a 5.8% gain in revenue to $10.5 billion. The company said it added 189,000 combined video, high-speed Internet and voice customers in the quarter.