NBC Universal reported earnings down 45% q/q this morning. But executives said that if you strip out one-time costs and charges, profits sank only 15% – 20%.
“That’s right,” says MediaMemo’s Peter Kafka, “For media conglomerates this quarter, down 20% is the new up.”
NBC U’s Q1 revenues sank 2% to o $3.5 billion.
Here’s a chart NBC U passed out to analysts and press:
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