Friday, July 17, 2009
Happy Days Aren’t Here Again: Another Miserable Quarter for NBC
Yesterday, Google told Wall Street that its business had “stabilized” during the spring, but it may be one of the only media companies that gets to say that.
GE’s NBC Universal, for instance, just posted second-quarter results that were as bad as its first quarter. Jeff Zucker’s TV and movie unit said revenue was down eight percent, and profit down 41 percent for the three months ending June 30; in the previous quarter, revenue was only down two percent, while profit was down 43 percent.
