Comcast Q4 2023 Earnings Beat Expectations, Boosted by Peacock and Theme Parks

Peacock's revenue surpasses $1 billion for the first time, while Comcast increases dividend for the 16th consecutive year.

Comcast's Q4 2023 earnings beat Wall Street expectations, with profits and revenue boosted by growth in its Connectivity & Platforms and Theme Parks businesses, and a nearly 50% YoY increase in Peacock paid subscribers to a total of 31 million.
Peacock's Q4 revenue grew by 57% to surpass $1 billion for the first time, while its loss narrowed to $825 million from $978 million in the prior year period.
Comcast's Theme Parks unit reported its highest-ever fourth-quarter and full-year adjusted EBITDA, with earnings increasing 11.6% to $872 million in the fourth quarter and 24.7% to $3.3 billion for the full year.
The company lost 389,000 pay-TV subscribers and 34,000 broadband subscribers in the fourth quarter, but added wireless subscribers.
Comcast's board increased the company's dividend for the 16th consecutive year and authorized a new $15 billion share repurchase program.