Comcast Review Reveals Huge Earnings Growth Due to NBC Universal Acquisition

The LA Times, in a report this week, stated that Comcast Communications enjoyed impressive second quarter earnings over the same period in 2010. Much of these earnings were the result of a recent acquisition. Last January Comcast purchased a 51% stake in NBCUniversal which owns and operates several entertainment based businesses including several cable channels such as the USA Network, E!, the SyFy Network, and Bravo — all of which did very well. The NBC broadcast network also reported increased earnings over 2010 despite the fact it came in fourth in the network rankings. Both of the Universal theme parks in Los Angeles and Orlando did very well, thanks to the new Harry Potter attraction.  Universal Pictures also enjoyed a big jump in earnings. The Comcast review revealed, however, that the company’s main businesses of providing high speed Internet and cable TV is still its biggest money maker. Comcast currently provides these services to more than 20 million subscribers.