NBC Universal Ups Q2 Profit 13%16 Jul, 2010 By: Erik Gruenwedel
A rebound in advertising at its cable and network units helped NBC Universal report second-quarter (ended June 30) segment income of $607 million, up 13% from income of $539 million during the previous-year period.
NBC Universal, which includes Universal Studios Home Entertainment, said revenue rose 5% to $3.7 billion from $3.6 billion last year.
During a call with analysts, parent General Electric gave the studio segment short shrift, indicating the fiscal year remained “challenged” for filmed entertainment despite positive signs from recent releases Get Him to the Greek and Despicable Me, the former nearly doubling its $40 million production budget at the global box office.
Through July 15, Despicable Me, has generated more than $92 million in worldwide box office since its July 9 release. The film was Universal Studios’ first weekend box office winner since Fast and Furious April 3, 2009.
Comcast is attempting to acquire regulatory approval for controlling interest acquisition of NBC Universal.