Comcast reported today that its first-quarter revenue grew 31.8% to $12.1 billion, in addition to bumps in operating cash flow and operating income, primarily reflecting strong cable communications and cable networks results and the consolidation of NBCUniversal in January. Excluding the NBCUniversal transaction and related costs, operating cash flow grew 16.6% in the first quarter with NBCU on the books at the cable giant. “The performance of NBCUniversal was led by our cable networks, which posted strong growth across the board,” Comcast chairman and CEO Brian Roberts said. “While we’ve only been operating the NBCUniversal businesses for three months, we’re encouraged by a seamless integration, and we are working diligently to invest and build value for our shareholders.” Cable revenue, helped by networks like USA, E! and Bravo, increased 5.8% to $9.1 billion, compared to $8.6 billion in first-quarter of 2010. Overall, NBCUniversal’s pro forma revenue of $4.3 billion decreased 11.5% compared to $4.9 billion in the first quarter of 2010, owing to $782 million in revenue generated by the 2010 Vancouver Olympics. Excluding the Olympics, pro forma revenue increased 5.2%.
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