Comcast Reports Q4 Profit Growth, Narrowed Peacock Losses, and Broadband Subscriber Decline

Peacock's revenue rose 28% as losses narrowed, while Comcast's broadband and pay-TV services saw significant subscriber losses.

Comcast's Q4 2024 net income grew 46.6% year-over-year to $4.78 billion, bolstered by a $1.9 billion tax benefit expected in 2025.
Peacock's Q4 revenue increased by 28% to $1.3 billion, and its quarterly loss narrowed to $372 million, down from $825 million in Q4 2023.
NBCUniversal's Studios division saw profits soar 85% to $569 million, driven by the box office success of films like 'Wicked' and 'The Wild Robot.'
The Connectivity & Platforms unit faced challenges, losing 139,000 broadband subscribers and 311,000 video customers during the quarter.
Comcast announced plans to spin off many of its cable networks into a standalone entity, SpinCo, expected to generate $7 billion in annual revenue.