‘Despicable Me’ Discs Help Drive Universal Q4 Profit16 Feb, 2011 By: Erik Gruenwedel
Strong disc sales of animated comedy Despicable Me contributed to NBC Universal posting a 38% increase in fourth-quarter (ended Dec. 31) operating income compared to the previous-year period.
NBC Universal, which closed its sale by parent GE to Comcast Corp. Jan. 18, includes Universal Studios Home Entertainment.
The studio reported operating income of $830 million, compared to operating income of $602 million during the previous-year period.
A 15% increase in disc sales attributed to box office hit Despicable Me ($527 million worldwide ticket sales) contributed to the profit rise.
NBC Universal revenue increased 11.5% to $4.7 billion from $4.2 billion last year.
“NBC Universal had a very strong quarter,” said GE CFO Keith Sherin.
The media company’s first-quarter results will be included in Comcast’s Q1 results.