M+E Daily

Comcast Rides Universal to Profit (MESA)

Comcast rode a solid quarter from Universal Studios and the best video customer results in years in terms of video customers for its cable division to a fourth-quarter operating profit of $4 billion, up nearly 6% year over year, on revenue of more than $19.2 billion, up 8.5%. Cable segment revenues for the company jumped 6% for the quarter to nearly $12 billion, thanks to gains in Internet, video and business services revenues, offset by a decline in lower ad revenue. Comcast gained 89,000 net new video customers during the quarter, the best quarterly gain for the company in eight years, and also added a net 460,000 Internet customers…

“I am exceptionally proud of our results this year, which were driven by strong performances in each of our core businesses,” Comcast CEO and chairman Brian Roberts said in a statement. “At Comcast Cable, our focus on delivering the most innovative products and improving the customer experience led to fantastic operating metrics, including our best video customer results in nine years, and our best high-speed Internet customer results in eight years.

“NBC Universal had a remarkable year, with record-breaking results at both theme parks and film, and continued success at NBC, which was number one in primetime for the second consecutive season.”

On the NBC Universal side, Comcast saw a revenue jump of 13% to $7.5 billion (up from $6.6 billion a year ago), with Universal Studios revenue jumping nearly 26% to more than $1.6 billion, thanks to a nearly 75% jump in quarter-to-quarter home entertainment revenue (from strong performances by Minions and Jurassic World).

Comcast’s cable networks division also enjoyed a solid quarter, with revenue up 3.4% to $2.4 billion, while broadcast was up 7% to nearly $3.5 billion.