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Was yesterday's Super Bowl "super" for General Electric Co. (NYSE: GE)? While it is no doubt prestigious to broadcast the NFL championship, I wonder whether it's as great as it seems for the company's bottom line.GE's NBC network trumpeted in a press release that it earned $206 million in advertising revenue from 32 different advertisers. It sold the last two of the spots the night before the game. I am skeptical about this figure for several reasons.
Any numbers publicized in connection with advertising should be taken with a grain of salt. Gross billings, which often gets publicized, is a bogus number because it includes stuff that agencies charge their clients such as postage. The revenue figures publicized by NBC can be fudged in many ways. Remember, this is advertising.
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