Comcast Reports Solid Quarter, Thanks in Part to NBCU

Comcast’s investment in NBCUniversal is beginning to pay off. Just six months after the completion of the acquisition, the largest cable operator in the U.S. reported that quarterly broadcast television revenue for its new property was $1.7 billion, up some 19 percent over the same period last year. Despite the fact that NBC continues to trail its competitors in the ratings, its broadcast television advertising revenue increased 6.8 percent, climbing to $1.11 billion. And the quarter saw the premiere of NBC’s biggest hit in years -- reality singing competition "The Voice."

The company’s cable distribution business increased 5.6 percent in the quarter, with advertising revenue growth of some 4 percent. Comcast added 99,000 new video, Internet, and voice customers in the quarter -- an increase from the 83,000 added in the second quarter of 2010. Comcast also saw a 21 percent jump in its filmed entertainment revenue thanks to the box office successes of “Bridesmaids” and “Fast Five,” which generated $1.3 billion. Comcast also has high hopes for this summer’s “Cowboys and Aliens," in which the company owns a 20 percent stake. Overall, Comcast’s second quarter earnings rose 16 percent, and the company boasted a total revenue of $14.3 billion. The company also had good news for its investors: earnings per share for the quarter was $0.37—a 19 percent increase from the $0.31 reported this time last year.