The movie flop Battleship pounded the profits at NBCUniversal's Hollywood studio unit but Comcast Corp.'s cable division produced a solid second quarter with the biggest revenue gains in its business and residential-Internet services.
Second-quarter revenue on a pro forma basis at Comcast, the nation's largest pay-TV operator, rose 3.5 percent to $15.2 billion and net income jumped 32 percent to $1.35 billion when compared with the year-ago quarter. The year-ago quarter included a one-time tax-related charge of $137 million.
The second quarter traditionally has been a weak period for Comcast with subscriber additions because of people with vacation homes canceling their cable-TV service for the summer. The company shed 176,000 cable-TV subscribers this year, compared with losing 238,000 in the year-ago quarter.
Comcast added 156,000 high-speed Internet customers in the quarter, compared with adding 144,000 Internet customers in the prior-year period.
Revenue and profits declined at NBCUniversal in the second quarter because of the movie studio, higher programming costs in the cable-networks division and a difficult comparison with the year-ago period when NBCUniversal benefited from a rights deal with Netflix.
"NBCUniversal's second quarter performance came in as anticipated, and we continue to be very positive about our opportunities to build value across all the NBCUniversal businesses," Brian Roberts, chief executive officer and chairman at Comcast, said in a statement released with the earnings. "Comcast Cable and NBCUniversal are also working well together to launch innovative products and experiences -- and these efforts are being showcased now as we utilize all of our content and technology platforms to deliver the most comprehensive Olympics coverage ever."
Most Popular Stories
- Entrepreneurs Chase Social Media
- Schedule packed with talent at the Fox
- European Car Sales up First Time in 20 Months
- I never set out to be a role model but it's great to be one ; IN THE HOTSEATBetter known by his stage name Wretch 32, Jermaine Sinclair is a 28-year-old rapper from London. In 2011 his debut album Black and White sold over a million copies and scored three top five singles. His latest single Blackout was released this week
- Austin musicians point to a variety of reasons to appreciate McCartney
- Manila's Hollywood Week
- Financial Times Twitter, Email Hacked
- Apple's iPhones, iPads Approved for Military Use, Sir Yes Sir!
- SINCE YOU ASKED [Pittsburgh Tribune-Review (PA)]
- Promoter McLean 'provided more musical joy than Dylan and Prince combined'