First-quarter earnings fell 45% at NBC Universal, parent company General Electric announced Friday morning, TelevisionWeek reports. While its cable networks continued to deliver double digit growth, GE CEO Jeff Immelt said, “NBC Universal has a tougher performance overall due to a soft advertising market and fewer major DVD releases compared to a year ago.” GE said its first-quarter net earnings were $2.8 billion, or 26 cents a share, down 40% from $4.3 billion or 43 cents a share a year ago. Revenues were down 9% to $38.4 billion. GE’s earnings announcement can be read here.
—Jon Lafayette