NBCU parent and economic bellwether GE posted Q4 revenue of $48.5 billion, up 18 percent from the $41.2 billion in the year-ago period. Net income grew 17 percent to $6.7 billion ($.68/share) from $5.9 billion ($.58/share). At NBCU, revenue grew 8 percent, to $4.5 billion, while profits rose 10 percent, to $923 million. The company cites record box office receipts, entertainment and ratings at its cable news channels. The 10 percent profit growth is a slight acceleration from last quarter, when the unit saw 9 percent growth. The overall numbers matched expectations and the company said that 2008 income will come in at least 10 percent higher.

SEE ALSO: Earnings: GE Earnings Up 14 Percent in Q3; NBC Income Up 9 Percent on Higher Revs

For the full year, NBCU revenue saw a 5 percent decline to $15.4 billion.
Release | Webcast | Slides (.pdf)

Conference call: As noted on the slides, management is forecasting Q1 profit growth at NBCU of 5-10 percent, a number that takes into account the impact of the strike. At this point, they’re “not counting on a fast resolution.” In the latest quarter, the company claims ratings weakness was offset by the strength of its reality lineup and lower costs and so the strike had “no noticeable impact.” Most of the call was spent on the rest of the GE business, particularly the economy, and the company is sticking to its guns that its core business remains healthy, particularly on a global level. Hulu was briefly touched on as having beta launched to positive reviews, while the Oxygen integration was described as being on track.