NBC's 2002 financials are up big thanks in part to the presence of skaters
and skiers and the absence of 'He Hate Me' and the whole hot-tubbing XFL gang.
NBC showed a 9 percent increase in revenues and an 11 percent increase in
operating profit for the second quarter of 2002 compared with the same period in 2001.
The company attributed the increases to improved ad performance, the addition
of Telemundo Communications Group Inc. and the absence of the failed XFL, for
which it had to take a one-time charge in 2001.
NBC's second-quarter revenues were $1.987 billion, up $156 million over the second quarter of
For the first six months of the year, revenues were $3.985 billion, up $803
million, or more than 25 percent, over the first six months of 2001, mostly for
the same reasons plus a big bump
from the Winter Olympic Games.
NBC made $545 million in the second quarter, up from $491 million in the year-earlier period.
For the first six months, it made $858 million, up from $789 million in the
first six months of 2001.
General Electric Co. no longer amortizes goodwill (as of January 2002), which
is now a corporate rather than a segment charge, so the Telemundo purchase did
not count against NBC and 2001 numbers were refigured without goodwill for the
sake of apples-to-apples comparisons.
NBC filed its quarterly report with the SEC Thursday
and, in accordance with the new rule on corporate accountability, GE CEO Jeffrey
Immelt and chief financial officer Keith S. Sherin signed off on the