NBCU Makes Modest Q2 Gains7/11/2008 08:00:00 PM Eastern
General Electric last week reported that adjusted second-quarter earnings were flat at 54 cents per share, with its NBC Universal unit making modest gains.
NBCU segment profit crept up 1% to $909 million for the three months ended June 30. NBCU revenue advanced 7% to $3.882 billion. For the six months, NBCU segment profit was up 2% to $1.621 billion and up 5% on a revenue basis to $7.446 billion.
In a conference call with Wall St. analysts, GE brass said just-concluded upfront-advertising sales for its broadcast and cable networks rose to $4.3 billion for the 2008-2009 season, up from $4 billion last year. In upfront, NBC ad sales were up just 2% while cable jumped 25%.