GE Posts Gain Despite Weak NBC

NBC was not among the contributors to General Electric’s 9% boost in net profits for the year, which reached $4.3 billion (or $4.85 a share), up from $3.94 billion ($4.36). Revenue for the year ended Dec. 31 grew 7% to $58.4 billion from $54.6 billion. Revenue for the fourth quarter grew 6% to $17.2 billion from $16.2 billion. Quarterly profits climbed 6% as well to $1.24 billion ($1.42) from $1.17 billion ($1.30).

According to Jeffrey Logsdon, an analyst with Seidler, Amdec Securities, “NBC already had ratings problems and clearly the war has brought a significant disruption in programming, which means lost advertising revenue that can’t be recovered.”

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Scene News from Variety

Loading