People/Biz

Comcast posts jumps in TV revenue for NBCUniversal, cable networks

As part of Comcast’s earnings report for the third quarter of 2018, revenue for NBCUniversal increased 8.1% to US$8.6 billion in the third quarter of 2018, but the net income ...
October 25, 2018

As part of Comcast’s earnings report for the third quarter of 2018, revenue for NBCUniversal increased 8.1% to US$8.6 billion in the third quarter of 2018, but the net income for the overall unit decreased 8.5% to $2.1 billion due to a drop in the division’s film unit and theme parks.

NBCUniversal Cable Networks’ revenue saw an increase of 10.8% to $2.9 billion. This was due to higher distribution (9.5%), content licensing (36.1%), and other advertising revenue (4.2%). Adjusted earnings before interest, tax, depreciation and amortization (EBITDA) jumped 6.9% to $968 million in Q3 2018 due to higher revenue, partially offset by increased programming and production costs.

Elsewhere, NBCUniversal’s broadcast television revenue increased 15.4% to $2.5 billion in the third quarter of 2018. EBITDA increased 1.8% to $321 million in the third quarter of 2018, reflecting higher revenue, partially offset by increased programming and production costs associated with Telemundo’s broadcast of the 2018 FIFA World Cup Russia.

Meanwhile, NBCUniversal’s filmed entertainment revenue received a boost of 3.8% to $1.8 billion in the third quarter, but its earnings decreased by 44.2% to $214 million in Q3, due to higher operating costs. Adjusted EBITDA dropped 46.7% to $555 million compared to 2017 for the film unit due to lower revenue.

Earnings per share for Comcast, meanwhile, jumped by 12.7% to $0.62, compared to the third quarter of 2017. When adjusted, the share increased 27.5% to $0.65.

“At NBCUniversal, our TV businesses continued their strong performance. NBC finished the 52-week season ranked #1 in total viewers for the first time in 16 years and #1 in adults 18-49 for the fifth consecutive season, and is off to a great start in the new season,” Brian L. Roberts (pictured), chairman and CEO of Comcast, said in a statement. “Our recently completed acquisition of Sky is transformative for our company, helping create a unique global leader in media, technology, television and broadband.”

The American media conglomerate acquired European pay-TV operator Sky for US$40 billion in September, beating out rival 21 Century Fox.

About The Author
Jillian Morgan is a special reports editor at realscreen with a background in journalism and digital marketing. She joined the publication in 2019 after serving as the assistant editor to trade publications HPAC and On-Site. With a bachelor of journalism from the University of King's College in Halifax, she also works as a freelance writer and fact-checker.

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