NBC Universal recorded a 13% increase in profit in the third quarter to $732 million.
Thanks to a gain related to the company’s investment in A&E Television Networks which has merged Lifetime into the fold. Revenue fell by 20% in the same period.
The company did, however, have some write-downs. Indian broadcaster NDTV is buying back NBCUs stake in the venture and the entertainment giant also recorded an impairment charge related to its Weather Channel investment. After tax, General Electric said NBCU recorded a gain of $89 million because of the changes in the quarter.
For the first nine months of the year, profit at NBCU was down 27%, to $1.66 billion from $2.2 billion in 2008. Last year, NBC aired the Beijing Olympics and its news networks had the benefit of political dollars and more viewers.
Revenue was off 20% in the third quarter, at $4 billion, down from $5 billion in the year-ago period. For the first nine months of 2009, revenue was off 11%, at $11.1 billion, according to a press statement from GE. GE’s total net earnings were $2.5 billion for the third quarter, down 44%
