NBC’s revenue grew 23% year over year in Q1, but most of that boost was the result of the Olympics.
And NBC also lost nearly $200 $223 million on the Olympics, so the revenue bump isn’t really good news.
- Revenue of $4.3 billion, up 23%
- Operating profit of $199 million, down 49%
- Revenue of $3.5 billion, flat
- Operating profit of $393 million, flat*
Bear in mind that the economy and advertising spending have recovered significantly since last year. So “flat” isn’t much to write home about.
* GE didn’t specifically break out NBC’s Olympics-related revenue and losses, but in the numbers above we assumed that all of the revenue and cost in GE’s broader “Olympics” exclusion was attributable to NBC. David Kaplan at PaidContent says NBC’s Olympics loss was actually worse–$223 million vs. the $194 million in the financial statements. So that means that NBC’s operating profit ex the Olympics was up modestly year over year.
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