Overview
- Comcast reported results on Thursday showing $29.94 billion in revenue and $1.04 adjusted earnings per share while Peacock produced $189 million in adjusted EBITDA and added 2 million paid subscribers to reach 48 million.
- The company said Telemundo and Peacock’s World Cup coverage accounted for about $440 million of incremental revenue that lifted NBCUniversal’s media and advertising results.
- Comcast’s core connectivity business continued to weaken with a net loss of 167,000 residential broadband customers and 280,000 cable subscribers in the quarter while its wireless unit added a record 448,000 lines to reach 10.2 million total lines.
- Studios saw roughly 25% revenue growth to about $3 billion driven by theatrical hits, while Universal theme parks reported a 5.1% decline in adjusted EBITDA and softer international attendance.
- Comcast plans to spin off NBCUniversal and Sky within about a year so the media business can pursue growth separately and the remaining company can focus on connectivity and wireless expansion.