NBCU Sees Q2 Earnings Leap 13%

NBC Universal boosted second-quarter earningss 13 percent and posted the best quarterly revenue performance for the period out of all General Electric segments.
NBCU’s profit hit $607 million. Earnings at most other units rose at a stronger pace, but the entertainment property — in which cable giant Comcast is looking to acquire a controlling stake — outperformed GE’s 8 percent growth rate (to $5.04 billion) for all its segments combined.
Revenue at NBCU rose 5 percent in the latest quarter to $3.75 billion, the only GE operating unit to grow besides Home & Business Solutions, which was up 4 percent.
Total GE revenue in the quarter fell 4 percent to $37.4 billion, the company reported today.
“GE’s economic environment continues to improve,” GE chairman and CEO Jeff Immelt said early Friday. He also lauded NBCU’s “good revenue and profit growth.”
For the first half of 2010, NBCU’s profit is down 13 percent to $806 million due to a weak first quarter, which had seen a 49 percent decrease driven by the cost of the Winter Olympics.
NBCU revenue at the half-year mark is up 14 percent to $8.07 billion.