NBC Universal parent General Electric reported earnings this morning and the media company had a “lopsided” Q3, according to PaidContent.
Earnings rose to $732 million while revenues dropped by a billion.
Parent GE said in its report, however, that overall the financial crisis is “better” and that the recession is “bottoming,” though the company offered no information specific to media.
The company’s cable business is growing, however, with USA network rated #1 in terms of viewership. And in terms of broadcast, which has suffered losses, GE had just this to say: “Local markets are showing signs of improvement.” Not a rousing endorsement but we’ll take it.