NBCU claimed the economy was affecting them just like everyone else and they have been doing some draconian cuts in personnel. But on Tuesday, General Electric CEO Jeffrey Immelt told company investors that NBC Universal would post a profit of $3 billion this year.
Adweek reports Immelt “cautioned” that NBCU could be down “slightly” in 2009, but that the company’s strategy to diversify both geographically and into the cable-network business, has better prepared it to face the recession and “help achieve its goal of 10% annual profit growth once recovery takes hold.”
NBCU announced earlier this month it would eliminate 500 jobs as a result of the faltering economy.