The plans of Comcast to acquire Time Warner Cable have fallen apart, but the company may consider a solid first quarter as a nice consolation prize. Results were negative at NBC, which has conflicting major events impacting its results.
The television network 2015 was going head-to-head with its 2014 schedule which included the Olympics, but countered it with this year’s Super Bowl broadcast.
Marci Ryvicker of Wells Fargo Securities noted that the company beat expectations pretty much across the board.
Consolidated revenue for the company was up 2.6%; operating cash flow was up 7.6% and operating income was up 9%.
The cable wing enjoyed a 6.6% gain in revenue and a 6.2% gain in OCF.
NBCU revenue was down 7.9%, although it noted that if the two event referred to are excluded the decrease was only 4%.
The network brought home $376M thanks to the Super Bowl, and has maintained its #1 position in regards to its competing networks in Adults 18-49 Nielsen ratings.
Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said, “We are off to a great start in 2015, with 7.6% operating cash flow growth and record quarterly free cash flow. Cable had a terrific quarter, once again reflecting strong results in high-speed Internet and business services. We have made progress in transforming the customer experience while delivering improved products and innovations faster than ever before. At NBCUniversal, we had another excellent quarter, led by Super Bowl XLIX, which was the most-watched television program of all time, along with the tremendous box office success of Fifty Shades of Grey, and the exceptional performance of The Wizarding World of Harry Potter — Diagon AlleyTM in Orlando. We begin 2015 with great momentum and remain confident that we are well positioned with an impressive portfolio of complementary businesses to continue our strong performance and drive shareholder value.”
