NBC Posts Sharp Profit Decline: NBC reported...

NBC Posts Sharp Profit Decline: NBC reported that its operating profit for 1990 plunged 21% to $477 million. Revenue fell 5% from 1989 to $3.2 billion, according to parent company General Electric’s annual report. GE attributed the profit and revenue declines to a soft advertising market, higher programming costs and lower ratings at the network. The results, which had not been disclosed when GE announced its 1990 companywide profit and revenue figures last month, were in line with analysts’ expectations.