Comcast released its first quarter earnings reporting stronger than expected results and reducing basic subscriber losses by more than half. Cable revenue rose 5.8% to $9.1 billion in the period and cable operating cash flow increased a strong 7.7% to $3.7 billion in the period. At its NBC Universal, revenue was driven by strong performance at the cable networks (up 13.3% to $2 billion in the period), offset somewhat by a 39% decline in broadcast television revenue and unfavorable comparisons. Total revenue at NBCU was down 11.5% in the quarter to $4.3 billion, compared to $4.9 billion in 2010. However, 2010 included $782 million in revenue from the Vancouver Olympic Games. Excluding the impact of the Olympics, revenue was up 5.2% at NBCU. Pro forma operating cash flow at the programming unit was up 4.9% to $473 million in the period.
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