Ad Woes Hamper NBCU’s Q1

NEW YORK NBC Universal posted weakened first-quarter results as continuing strength at its cable networks was outweighed by advertising woes and a weaker DVD showing.
NBCU parent General Electric on Friday said its first-quarter profit fell 35 percent and its revenue declined 9 percent.
NBCU outperformed that on the revenue line with a 2 percent drop, but its segment profit decrease was more pronounced at 45 percent.
“While cable continued to deliver double-digit growth, NBC Universal had a tougher performance overall due to a soft advertising market and fewer major DVD releases compared to a year ago,” GE chairman and CEO Jeff Immelt said.
GE’s quarterly profit came to $2.8 billion, slightly bettering analysts’ estimates. Revenue declined 9 percent to $38.4 billion.
NBCU posted a profit of $391 million on revenue of $3.5 billion.
Click here for complete GE Q1 financials.