COMCASTThe Sochi Olympics generated more than $1.1B in revenue which enabled NBCUniversal to propel the cable giant’s strong financial results. Comcast generated $1.87B in net income attributable to the company, +30.2% vs the first three months of 2013, on revenues of $17.4B, +13.7%. The top-line number nbcsochi__131202172913__140212145821beat the $17.04B that analysts expected. Earnings not including one-time items came in at 68 cents a share, ahead of the consensus forecast of 64 cents. With the Olympics dough, NBCU revenues increased 28.8% to $6.88B with operating cash flow +37.6% to $1.31B. The broadcast operation led the way with a 72.8% boost in revenues to $2.6B — but still would have been up 17% without the Games due to a 15.8% increase in ad sales from NBC’s improved ratings. Cable network revenue increased 12.6% to $2.5B, but would have been up just 1% without the Olympics. due to a 1.4% drop in ad sales.

Related: Comcast Expects NBC To Catch Up To Rivals In Upfront Ad Market

Ride Along #1 box officeAt the smaller Universal filmed entertainment operation, revenues increased 11.1% to $1.4B with help from Ride Along and Lone Survivor and overseas sales for The Wolf Of Wall Street. And theme park revenues increased 5.4% to $487M as per capita spending increased while attendance remained stable. The core cable business also did well — even with video subscriptions, up by 24,000 to 22.6M. Revenues for all of the cable systems offerings including broadband increased 5.3% to $10.8B due to rate hikes, upselling, and customer growth. CEO Brian Roberts crowed about NBC’s “best season-to-date broadcast ratings in a decade.” As for his planned $45B acquisition of Time Warner Cable, he says that it “will strengthen a truly world-class organization that will be well positioned to compete and yield meaningful benefits to our customers, employees, and shareholders.”

Limbo
11 months
Even with all the hype over the Olympics, and the fact that Comcast/NBCU put most of the...
Richard
12 months
a gain of only 24,000 video subscribers is certainly better than other companies, BUTT is a horrible...