Peacock Narrows Loss to $215M, Subscribers Jump to 41M

Comcast, led by chairman and CEO Brian Roberts, reported first-quarter results for its entertainment unit and other operations.

Peacock, the NBCUniversal streamer under parent Comcast, narrowed its loss to $215 million, from $639 million in the year-ago period, and overall revenue rose 16 percent to $1.2 billion. Peacock ended March 2024 with 41 million paying subscribers, compared with 36 million for the year-end 2024 quarter and the previous third quarter of 2024.

The media conglomerate reported first quarter overall revenues at $29.8 billion, compared to a year-earlier $30.05 billion. Adjusted EBITDA for the media division rose to $9.5 billion. Comcast beat on a consensus estimate for revenues at $29.68 billion for the first quarter. Net income attributable to Comcast came to $3.37 billion, down 12.5 percent from a year-earlier $3.85 billion, and the adjusted earnings per-share rose 4.5 percent to $1.09.